Standard & Poor's Ratings affirmed its 'AAA' long-term and 'A-1+' short-term sovereign credit ratings on Germany with outlook Stable, the agency said on Thursday.
"The unsolicited ratings on Germany reflect our view of its modern, highly diversified, and competitive economy, its strong external creditor position, and its record of prudent fiscal policies and expenditure discipline," S&P said in a statement.
"The German economy has recovered relatively well since 2010, supported mainly by a strong rebound in net exports and gross fixed investments. In our view, the German economy's overall resilience to the global downturn reflects years of corporate restructuring, wage restraint, and a high savings rate," the agency added.
Last week Moody's ratings agency downgraded the outlooks of Germany, the Netherlands and Luxembourg due to a number of key factors, including Greece's possible exit from the eurozone. It said even if Greece remains in the eurozone, there are increasing worries that Italy and Spain will need massive financial support.
Moody's also changed its outlook on 17 German banks, including KB Deutsche Industriebank and Deutsche Postbank, and several of their subsidiaries from Stable to Negative last week amid growing worries about the eurozone's future.
