VIENNA, Jan 29: Credit ratings agency Standard & Poor’s raised its outlook on debt issued by Austria to “stable” from negative on Tuesday, and affirmed its sovereign credit rating at “AA+”, one notch below the top level, saying the country would not be harmed by the European debt crisis.

Austria, a member of the eurozone, has developed particularly influential economic links in former Soviet countries in Eastern Europe and its banks have expanded eastwards.

“We expect that Austria’s economy will continue to buck the negative impact of the European sovereign debt crisis and that the government will stick to its 2012-2016 financial plan,” an S&P statement said.—AFP