Morningstar DBRS Cuts Austria to AA High From AAA, Ending Decades-Long Top-Rating Run
Updated
Updated · Bloomberg · Jun 6
Morningstar DBRS Cuts Austria to AA High From AAA, Ending Decades-Long Top-Rating Run
2 articles · Updated · Bloomberg · Jun 6
Summary
Austria lost its last top-tier sovereign credit rating after Morningstar DBRS downgraded the country to AA (high) from AAA in an update published late Friday.
Persistently high budget deficits and deteriorating debt metrics drove the cut, which Morningstar DBRS said reflects weakening public-finance strength.
The downgrade ends a decades-long stretch in which Austria ranked among Europe’s safest sovereign borrowers.
Morningstar DBRS assigned a stable outlook, signaling no immediate expectation of another rating move despite the weaker standing.