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Swiss firms well positioned for downturn

Swiss businesses are well positioned to cope with the expected economic downturn in 2012, new research by Credit Suisse bank has found.

A report published on Monday by Swiss Institutional Credit Research, a research branch of Credit Suisse, said that although the market environment was characterised by great political and economic uncertainty, Swiss firms were in a healthy financial state.

Credit Suisse analysts think the crisis in the eurozone is likely to improve, but did not rule out a dramatic deterioration of the situation. Economic growth is likely to slow down all over the world, which would also affect Switzerland, they said.

The strength of the Swiss franc will remain a challenge for Swiss businesses but it should not lead to a lowering of their credit ratings, the report said. and agencies

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