In a statement made on Friday, Fitch said the Grand Duchy would retain the rating with a “stable outlook”, driven by above-average Eurozone growth, low public debt, and the recently introduced solidarity measures, which aim to preserve households’ purchasing power in spite of inflation.
The Triple-A rating is the highest possible rating that can be issued by agencies. Countries with AAA ratings are assumed to be capable of reliably repaying debts, therefore permitting governments to borrow money on favourable terms.
Earlier this year, rating agency Moody’s confirmed Luxembourg would retain its AAA status.
