Fitch affirms Germany, Luxembourg at AAA

|By:, SA News Editor

Fitch has reiterated Germany's rating at AAA and the country's stable outlook, citing its falling debt-GDP ratio and the growing economy. "Germany has a high-value added economy with a competitive manufacturing sector and effective political, civil and social institutions," Fitch says. (PR)

The Dax is -0.2%.

ETFs: EWG, BUND, EWGS, GERJ, BUNL, DBGR, DXGE, FGM, BUNT, GGOV

Fitch has also affirmed Luxembourg's rating at AAA, calling it a "very high-income, ultra-open economy with favorable macroeconomic dynamics" that "had one of the strongest recoveries in the eurozone in 2013." Fitch adds that "Luxembourg has a strong public finance position, although it faces increasing fiscal challenges over the coming years." (PR)