S&P said the ratings reflected Germany's modern, highly diversified, and competitive economy, its strong external creditor position, and its record of prudent fiscal policies and expenditure discipline.

"We are further of the view that the German economy has demonstrated its ability to absorb large economic and financial shocks, such as the reunification of West Germany with East Germany in the 1990s and the global recession in 2009," S&P said in a statement.