A wealthy economy, strong fiscal fundamentals, and a robust external position support the ratings. Exposure to global shocks as a small, open economy, ageing-related fiscal pressures and elevated financial imbalances are challenges.

A wealthy economy with solid fundamentals, robust public finances, and a strong external position support the ratings. Exposure to global shocks as a small, open economy, age-related fiscal pressures and rising financial imbalances are challenges.

A wealthy economy with solid fundamentals, robust public finances, and a strong external position support the ratings. Exposure to global shocks as a small, open economy, age-related fiscal pressures and rising financial imbalances are challenges.

A wealthy and robust-growing economy, sound public finances, euro area membership and strong external position support the rating; adverse demographics, strong reliance on financial sector and housing market imbalances are challenges.