STUTTGART (dpa-AFX) – Baden-Württemberg again received the second best grade in the analysis of creditworthiness by the rating agency Standard & Poor’s (S&P). The country once again gets the grade AA+, as the German Press Agency learned from the Ministry of Finance. This means that the country has exceptionally good access to the national and international capital markets.
“Baden-Württemberg remains an anchor of financial stability even in the crisis,” said Finance Minister Danyal Bayaz. “That is by no means a matter of course. Because it is a permanent stress test for the state to deal with the consequences of the crisis.” Nevertheless, a record budget has been set up, financial provisions have been made and targeted investments are made in the future of the country, according to the Green politician.
Good tax revenues and moderate spending would have further stabilized the country’s financial situation. According to the ministry, this significantly exceeded the expectations of the rating agency. As a result, the country can partially do without follow-up financing for loans.
Baden-Württemberg has also reduced its budgetary debt to 58.7 billion euros. The country did not suspend the debt brake during the crisis, which is also important to the rating agency./poi/DP/he