China's rating agency maintains Norway as AAA

Updated: 2011-08-19 20:32


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BEIJING  - China's domestic credit rating agency, Dagong Global Credit Rating Co. Ltd. Friday decided to maintain the local and foreign currency sovereign credit rating of the Kingdom of Norway as AAA with a stable outlook.

"In our analysis, Norway is facing a good recovery situation -- namely the improved soundness of the domestic financial system, large fiscal surplus, low government debt level, the continuous expansion of net assets under international investment positions and the government's extremely strong local and foreign currency debt payment capacity," Dagong said in a press release on Friday.

According to Dagong, Norway's financial system has become more sound and liquidity pressure has eased; the stable net creditor status of the government means that the country has an extremely strong debt payment ability; and Norway's external assets are in a healthy state with a strong guarantee of external debt payment.

Also, Dagong said it expected Norway to retain generally stable moderate growth, with an actual economic growth ratio of 1.5 percent and 2.5 percent in 2011 and 2012 respectively.

China-based Dagong Global Credit Rating is one of the few notable non-US based credit rating agencies in the world.