According to the government, which welcomed the result as a guarantee of good conditions on the financial markets, this triple AAA rating reflects the country's good budgetary situation.
The agency notably underlined the Grand Duchy's budgetary room for manoeuvre, which enabled it to employ favourable measures to support businesses and employees from the start of the pandemic in 2020, the government is pleased to say.
The rating agency believes that Luxembourg has the necessary capacity to absorb the shock due to the Covid-19 pandemic and to subsequently revive the economy. The country's debt must therefore remain below a threshold of 30% of the GDP.
