The state of Saxony-Anhalt commissioned the European rating agency Scope Ratings GmbH to prepare a credit rating for the first time in January 2024 and has now received the top rating of "AAA" with a stable outlook as part of the initial assessment.
In addition to the federal financial equalization system, which is generally relevant for the federal states, the agency attests to Saxony-Anhalt's solid budget management, strong access to the capital market and comparatively low future contingent liabilities.
Finance Minister Michael Richter: "The latest rating result confirms that the state of Saxony-Anhalt continues to be one of the most reliable players on the capital market and is very attractive for national and international investors".
As recently as December 2023, Scope Ratings was the first European agency to receive approval for its ratings for deliverable securities from the European Central Bank (ECB), positioning itself as a European counterweight to the major American agencies Fitch, Moodys and S&P.
Michael Richter: "We expressly welcome the establishment of a European rating agency and are delighted to be able to present a credit rating from our continent for the first time."
Saxony-Anhalt voluntarily undergoes a comprehensive credit assessment by external rating agencies in order to appeal to as broad an international investor base as possible. The respective rating expresses the assessment of a rating agency as to the extent to which a debtor is able to meet its future interest and repayment obligations on time in the long term.
In addition to the assessment by Scope Ratings, the state of Saxony-Anhalt is also rated by the agencies Fitch ("AAA") and Moody's ("Aa1") and also receives very good ratings here.
The rating report can be found on the website of the Ministry of Finance.
Source: Ministry of Finance