Moody’s says Switzerland can manage shocks like Credit Suisse

ZURICH: Moody’s is comfortable with the highest rating it holds for Swiss sovereign debt, the ratings agency said on Thursday, following Credit Suisse’s $54 billion liquidity injection from country’s central bank.

“The stable outlook on Switzerland’s Aaa rating reflects our expectation that Switzerland’s very strong economic fundamentals, ample fiscal space and its highly effective institutions will allow it to effectively manage shocks such as the current one that affects banking systems globally,” said Diemar Hornung, associate managing director at Moody’s Investor Service.

Credit Suisse says it will borrow up to $53.7bn from central bank