AGL 37.80 Decreased By ▼ -0.35 (-0.92%)
AIRLINK 124.00 Increased By ▲ 2.49 (2.05%)
BOP 5.70 Decreased By ▼ -0.15 (-2.56%)
CNERGY 3.75 No Change ▼ 0.00 (0%)
DCL 8.51 Increased By ▲ 0.11 (1.31%)
DFML 40.49 Decreased By ▼ -0.40 (-0.98%)
DGKC 87.25 Increased By ▲ 2.65 (3.13%)
FCCL 33.76 Increased By ▲ 1.06 (3.24%)
FFBL 66.00 Increased By ▲ 0.50 (0.76%)
FFL 10.20 Increased By ▲ 0.15 (1.49%)
HUBC 103.98 Increased By ▲ 0.18 (0.17%)
HUMNL 13.50 Increased By ▲ 0.25 (1.89%)
KEL 4.70 Increased By ▲ 0.27 (6.09%)
KOSM 6.85 Decreased By ▼ -0.24 (-3.39%)
MLCF 38.97 Increased By ▲ 1.47 (3.92%)
NBP 60.71 Increased By ▲ 0.46 (0.76%)
OGDC 178.81 Increased By ▲ 6.56 (3.81%)
PAEL 24.91 Increased By ▲ 0.11 (0.44%)
PIBTL 5.70 No Change ▼ 0.00 (0%)
PPL 152.45 Increased By ▲ 10.76 (7.59%)
PRL 22.79 Increased By ▲ 0.07 (0.31%)
PTC 15.00 Increased By ▲ 0.26 (1.76%)
SEARL 66.80 Increased By ▲ 2.24 (3.47%)
TELE 7.02 Decreased By ▼ -0.12 (-1.68%)
TOMCL 35.64 Increased By ▲ 0.14 (0.39%)
TPLP 7.32 Increased By ▲ 0.03 (0.41%)
TREET 14.00 Decreased By ▼ -0.20 (-1.41%)
TRG 50.80 Decreased By ▼ -0.95 (-1.84%)
UNITY 26.47 Decreased By ▼ -0.13 (-0.49%)
WTL 1.23 Increased By ▲ 0.01 (0.82%)
BR100 9,678 Increased By 195 (2.06%)
BR30 29,113 Increased By 741.7 (2.61%)
KSE100 90,853 Increased By 1885.9 (2.12%)
KSE30 28,459 Increased By 631.8 (2.27%)

Fitch Ratings on Thursday held steady Switzerland's top AAA rating, citing its resilient economy and well-managed public finances, and kept the outlook at stable. "Fitch Ratings has affirmed Switzerland's long-term foreign and local currency Issuer Default Ratings (IDR) at 'AAA'," said the agency in a statement.
Fitch also held the country's short-term rating at 'F1+'. The decision reflects the country's "advanced, diversified and wealthy economy," and a record of low and stable inflation, said Fitch. Inflation was at minus one percent in May. "The economy has sustained resilient growth despite the global financial crisis, rebounding quickly from a contraction in 2009," it said, while citing also well managed public finances and strong institutions.
Swiss government debt dropped last year to 36.5 percent of GDP compared to 54.9 in 2003, increasing the room for fiscal manoeuvre in the event of a severe economic downturn, the agency said. It warned that "significant reforms" needed to be made to curb the effects of an ageing population on Switzerland's public finances however.

Copyright Agence France-Presse, 2012

Comments

Comments are closed.