Fitch affirms Luxembourg at 'AAA' with stable outlook
On 16 January 2015, the rating agency Fitch confirmed Luxembourg’s AAA rating with stable outlook. Luxembourg continues to benefit from the best credit rating from the three major rating agencies: S&P, Moody's and Fitch.
Fitch notes in particular the favourable economic trends in the country, with a higher average growth in the euro area. In its analysis, Fitch highlights the positive effects of the measures on public finance.
The analysis also notes that the Luxembourg financial centre continues to benefit from a comparative advantage over other financial centres. In this regard, Fitch shares the view that the exchange of information in tax matters is unlikely to have negative effects on the development of assets under management in Luxembourg.
Pierre Gramegna, Luxembourg's Minister of Finance said: "I am delighted with the confirmation of Luxembourg’s AAA rating. It validates the measures implemented by the Government for the repositioning of our financial centre and the consolidation of our public finances. The AAA rating is a guarantee of stability and confidence in the Luxembourg economy. It guarantees the country's attractiveness to investors and the creation of new jobs."