One week after Moody's confirmed Luxembourg's triple A rating, Fitch and DBRS have followed suit. Fitch stresses that Luxembourg boasts the lowest public debt among AAA countries with a rate of 21% of the GDP in 2018.
Both Fitch and DBRS praised the healthy public finances and the stable political environment of the Grand Duchy. They emphasised that the economy was displaying a sustained growth. It was also acknowledged that Luxembourg has undergone considerable efforts to diversify its economy into other sectors.
The two agencies cited the open and international nature of Luxembourg's financial centre as a potential risk because it could expose the country to protectionist tendencies. However, both agencies also underlined that the Grand Duchy was able to withstand economic shocks.
Perhaps no wonder, then, that Expats hold Luxembourg's economic health in high regard.
