S&P confirms Germany's credit rating


September 26, Fineko/abc.az. Standard & Poor'S (S&P) has affirmed the credit rating of Germany.

ABC.AZ reports that the credit ratings agency stated that Germany's long-term and short-term credit ratings in foreign and local currency have been confirmed at the level of AAA/A-1+.

The statement says that the country's credit rating outlook remains ‘Stable’, which will prevent the deterioration of its reputation in the next two years.

In the next few months the German economy is on the path to recession, and GDP is expected to fall by 0.3% by 2023, according to the statement.