The wealthy and diversified economy, prudent fiscal policy management and a robust external position are key credit strenghts. High levels of private sector debt and the risk of a more severe housing market correction represent challenges.

The wealthy and diversified economy, prudent fiscal policy management and robust external position are key credit strengths. High levels of private sector debt and the risk of a severe housing market correction represent challenges.

The ratings are supported by a wealthy and diversified economy, a robust fiscal framework and low public debt, a strong external position and a strong institutional framework. Financial stability risks and high private debt are challenges.

A wealthy and diversified economy, current account and budget surpluses, low public debt, and a strong institutional framework support the ratings. Financial stability risks, high private debt and the growth slowdown are challenges.