Moody’s changes Austria outlook to negative

Moody's Investors Service said it changed the outlook on Austria's Aaa government bond rating to negative from stable and affirmed the Aaa/P-1 ratings.

Moody’s said the key interrelated drivers for changing the outlook to negative are: (a) The likelihood that Austria's economic growth outlook will remain weak through the remainder of this decade; and (b) the challenges that low growth will pose for a material reduction in the government's relatively high debt burden over that period.

Austria's local and foreign currency deposit ceilings and local-currency and foreign-currency bond ceilings are unaffected and remain at Aaa/P-1.

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