Moody`s Has told, how to the countries not to lose the higher rating Aaato the States with the higher credit ratings from agency Moody`s Investors Service (Aaa) now yet decrease in an estimation of credit status, despite complexities with the finance does not threaten. However that such position has remained and further, these countries should make considerable efforts, is told in the next comment of agency extended today.
the largest countries with the higher credit ratings is Germany, France, Great Britain and the USA. Also Aaa - ratings Spain, Denmark, Finland, Norway, Sweden possess. The highest category rating allows these countries to obtain cheaper credits in the international markets of the capital.
Moody`s allocates a number of factors which put pressure upon credit ratings Aaa - the states. In spite of the fact that as a whole the world economy is restored after crisis, in a number of the large developed countries this process is insufficiently strong, though the governments of these countries accepted aggressive and ekspansionistskie measures of a fiscal and monetary policy, marks Moody`s.
“ It causes essential risk for the governments, connected with realisation of strategy of an exit from a crisis mode (exit strategies) which can make their credit status of more vulnerable “ - it is told in a press - release Moody`s.
One of main points on which preservation of the higher rating at the specified countries will depend, putting in order with a state debt and a budgeted deficit is. On the one hand, premature toughening of a monetary policy and turning of anti-recessionary measures can do much harm to a restored consumer demand and to undermine as a result tax base for the budget. On the other hand, the tightening of time with budget consolidation can appear not less harmful as the patience of the markets, and without that will try of the sovereign debts excited by a theme.
the agency specifies that on parametre “ availability of loans “ (factor of cost of percentage payments in relation to public revenues) ratings of all Aaa - the states are well placed now, though conditional “ a reserve “ for the higher ratings of these countries with crisis has decreased.
affairs at Spain which position approaches border of ratings Aaa/ Aa though, most likely, this boundary and will not cross worst of all are. From - for an agiotage in the market of sovereign debts the country had to publish the list of measures on budget consolidation to calm investors. It is not excluded that in the future from - for similar problems with a state debt and a budgeted deficit other countries - owners of the higher rating will undergo to similar pressure also.
thus Moody`s notices that the greatest complexities with availability of new state loans can arise at Great Britain and the United States of America though these states have rather high potential to elimination of balance tears after fiscal shock.