Fitch affirms Luxembourg AAA rating
The agency Fitch Ratings confirmed the AAA rating of Luxembourg with a stable outlook. The Grand Duchy continues to hold the top rating by the three leading agencies S&P, Moody's and Fitch.
In its analysis, Fitch highlights the good supervision of Luxembourg’s public finances and its low level of government debt. In particular, the rating agency emphasizes the favorable economic trends in the country, with a higher average growth in the euro area.
Fitch also stated that the "BEPS" process (erosion of the tax base and profit transfer) will not have significant implications on companies with a presence in Luxembourg.
Pierre Gramegna, Minister of Finance, comments: 'This new confirmation of our AAA proves the effectiveness of the government’s fiscal policy and the measures taken to consolidate our public finances. It is very good news for the attractiveness of the Luxembourg economy and the labor market.”