VIENNA — Moody's said Austria would retain its AAA rating due to its "well diversified economy," low unemployment rate and financial strength.
Friday's statement said the decision took into account the Alpine nation's "high economic strength, thanks to a skilled labour force and a competitive export sector that have helped Austria to grow faster than the European average in recent years."
"In so doing, Austria has achieved high average incomes, a well-diversified economy and structurally low unemployment," the statement said.
Austria has the lowest unemployment rate in the European Union with 4.1 percent of the active population jobless in October.
Moody's also hailed Austria's decision to pass a "golden rule" law early this month obliging the government to limit the structural or non-cyclical federal deficit to 0.35 percent of gross domestic product from 2017.
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