Fitch changes Austria to positive

Fitch Ratings said it revised the outlook on Austria's long-term foreign-currency issuer default rating to positive from stable and affirmed the issuer default rating at AA+.

“Austria has a rich, diversified, high value-added economy with strong political and social institutions,” the agency said in a news release.

“It benefits from low private-sector indebtedness and a high household savings rate.”

Fitch said it considers the government's debt structure is favorable, reflecting an average debt maturity of 10 years, low borrowing costs and strong financing flexibility.

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