The Kingdom of Denmark has mature political and institutional frameworks that have promoted fiscal discipline and a moderate debt burden, as well as an open and prosperous economy. We are affirming our 'AAA/A-1+' long- and short-term sovereign credit ratings on Denmark. The outlook is stable, reflecting our expectation that Denmark's key economic fiscal, external, and monetary credit measures would withstand most foreseeable shocks. On Oct. 25, 2013, Standard&Poor's Ratings Services affirmed its 'AAA/A-1+' long- and short-term foreign and local currency sovereign credit ratings on Denmark. The outlook is stable. The ratings on Denmark reflect our view of its mature political and institutional frameworks, which have promoted fiscal discipline and a moderate debt burden, as well as an open
