Standard & Poor's confirms KfW's AAA long-term rating and declares its rating outlook as stable

The rating agency Standard & Poor's has affirmed the top-grade "AAA" long-term rating on KfW. In addition, S&P removed the "CreditWatch negative" status, on which KfW had been placed in December 2011, with the outlook for the long-term credit rating now assessed as stable. The short-term rating was reaffirmed at the top-grade "A-1+".

This rating action on KfW is a direct result of the rating action taken on Friday, 13 January 2012. In this earlier action S&P affirmed the top "AAA" long-term rating on the Federal Republic of Germany and rated the outlook again as stable.

All three international rating agencies - Fitch, Moody's and S&P - are again assessing the long-term credit standing of Germany and of KfW as top quality with a stable outlook.

S&P Research(PDF, 430 KB, non-accessible)