The Danish economy is wealthy and diversified, with GDP per capita expected to exceed $55,000 in 2012. Its economic competitiveness is reflected in recurrent current account surpluses, which partly offset risks associated with the large stock of short-term debt in Denmark's banking sector. We are therefore affirming our 'AAA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Denmark. The stable outlook reflects our view that the wealthy and diversified Danish economy will remain resilient to most foreseeable external and internal shocks. On Oct. 24, 2012, Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on the Kingdom of Denmark. The outlook is stable. The sovereign ratings on Denmark
