COVID-19 will hit Denmark's economy and public finances in 2020, but fiscal headroom will enable it to withstand this unprecedented shock. The government has implemented a comprehensive package of emergency measures to shield businesses and employees from the temporary-but-severe liquidity shock. The wealthy and diversified economy, strong labor market, net external creditor position, and sizable fiscal space will help prevent longer-lasting damage to the economy. We are therefore affirming our 'AAA/A-1+' sovereign credit ratings on Denmark and maintaining a stable outlook. On Aug. 28, 2020, S&P Global Ratings affirmed its unsolicited 'AAA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Denmark. The outlook is stable. The outlook is stable because we expect Denmark will be able to
