The periodic review has resulted in no rating action.

The ratings are supported by a wealthy, large, diversified economy, sound public finances and a strong external position. Transition risks related to carbon neutrality targets, an ageing population and global geopolitical risks are challenges.

Monitoring review announcement

The ratings are supported by a wealthy, large and diversified economy, sound public finances and a strong external position. Transition risks and an ageing population are challenges.

Monitoring review announcement

The ratings are supported by a wealthy, large and diversified economy, sound public finances and a strong external position. Transition risks and an ageing population are challenges.

No action has been taken on the Federal Republic of Germany following a monitoring review.

No action has been taken on the Federal Republic of Germany following a monitoring review.

Monitoring review announcement

A large and diversified economy, solid fiscal framework, and high external competitiveness support the rating. Sizable future pension liabilities, low domestic investment, and adverse demographics are challenges.