S&P AAA rating confirmed again – outlook stable
In its research update at the end of May 2020, the international rating agency Standard & Poor's (S&P) once again confirmed Liechtenstein's country rating of AAA, the best rating possible. It is especially gratifying that the outlook remains stable, despite the challenges in overcoming the COVID-19 crisis.
Liechtenstein thus continues to be one of the very few countries in the world with the highest S&P rating. It is especially remarkable this time that the rating agency's positive assessment already takes account of the negative impact of COVID-19 on the overall economic trend. One of the main reasons for the highest rating is Liechtenstein's continuingly sound national budget. This ensures that the expected economic weakening due to Liechtenstein's heavy dependence on exports is not likely to have a negative impact on stability.
The Liechtenstein Bankers Association (LBA) is very pleased that the strongly capitalised banking centre has been able to make a crucial contribution to ongoing efforts to overcome the crisis. The banking centre stands for stability, innovation, and compliance, and it will continue to do so. It is a principal reason for Liechtenstein's strong reputation as an international financial centre – both today and tomorrow – as attested by S&P. The LBA is at the same time aware that this good position is not guaranteed. For this reason, the LBA is already working together with its members on continuing Roadmap 2020, and it supports the Government's goal for Liechtenstein to join the International Monetary Fund (IMF). IMF membership would further strengthen Liechtenstein's stability and resilience.
