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Austria's credit rating lowered to AA+ - Scope downgrade published
Rating agency Scope lowers Austria's credit rating to "AA+" - New developments and effects of the downgrade. Find out more on South Tyrol News.
Austria's credit rating lowered to AA+ - Scope downgrade published
The European rating agency Scope has decided to withdraw Austria's top rating. The country's long-term credit rating was downgraded from “AAA” to “AA+”. This change was announced on Friday, with the outlook revised from negative to stable. According to the agency, the downgrade reflects the increasing divergence of Austria's fiscal metrics compared to other highly rated states following the coronavirus pandemic and the energy crisis.
Austria's fiscal performance is under pressure, particularly due to recent structural policy changes and the aging population. These challenges are expected to keep the country's structural budget deficit at a high level and prevent a significant reduction in the debt ratio in the coming years.
Scope's decision reflects the ongoing economic difficulties facing Austria. The country is expected to take measures to improve its fiscal performance and ensure long-term economic stability. The credit rating downgrade could have an impact on the country's financing costs and may require a review of the fiscal policy strategy.