Germany will retain its top triple-A rating even if there is a recession this year, a leading Standard and Poor's official told a German newspaper Wednesday.
"We believe that Germany is in a comparatively strong position and that it should survive a possible recession this year without a downgrade," Moritz Kraemer, who is in charge of European countries' ratings at S&P, told Bild.
S&P Friday downgraded nine debt-laden European Union countries, including stripping France and Austria of their top triple-A rating. The move left just Germany, Finland, the Netherlands and Luxembourg with a AAA rating among the 17-strong eurozone.
For more: Germany will keep top S&P rating even in recession < German news | Expatica Germany
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