(AGI) London, July 11 - Standard & Poor's confirmed thelong-term AAA rating and a short-term A-1+ for Germany'ssovereign debt. The outlook was considered to be stable. Therating agency explained that the assessment reflects Germany'smodern, highly diversified and competitive economy, as well asthe belief that the country's public accounts and its surplusbudget with foreign countries will continue to cushion possibleeconomic and financial shocks. Standards & Poor's has alsoenvisaged that Germany's net debt level will drop to 65 percentof its GDP by 2016, from 74 percent in 2013. . .