LUXEMBOURG MAINTAINS TRIPLE AAA
(CS) Fitch Ratings has kept its AAA rating of Luxembourg with a stable outlook unchanged, leaving the Grand Duchy one of only nine countries worldwide to hold the top rating by the three leading agencies.
Luxembourg has also been rated AAA with a stable outlook by Standard & Poor’s and Moody’s. This makes the country part of an exclusive club of only nine countries to hold a triple AAA. The others are Australia, Canada, Denmark, Germany, Norway, Singapore, Sweden and Switzerland.
Finance Minister Pierre Gramegna welcomed Fitch’s AAA, saying that the government’s efforts to diversify the economy and the financial centre, and to consolidate public finances while keeping investments high had paid off.
“We put our public finances back on trail and continue to modernise our country, which allows us to tackle the challenges of the future with confidence,” the minister said in a statement published Saturday.
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