By awarding Liechtenstein the highest rating of AAA, S&P once again recognises the country's high level of stability
Only very few countries receive this rating. S&P placed particular emphasis on Liechtenstein’s beneficial market access as well as the excellent position of the country’s public finances. In its industry assessment, S&P also confirms that banks – with their clear focus on sustainable and low-risk business – are on the right track.
Liechtenstein again receives the highest rating of AAA
Liechtenstein has once again received the highest rating of AAA, with a stable outlook, from the international rating agency Standard & Poor's (S&P) in its research update of 31 May 2019.
In its report, S&P emphasises in particular the beneficial market access to Europe and Switzerland as well as the very strong financial resources of the state and social security funds which provide ample leeway to react to any shocks. The rating agency expects Liechtenstein to be able to maintain its strong economic and financial position.
The Liechtenstein Bankers Association (LBA) is very pleased about this repeated recognition. Stability is our greatest asset. Accordingly, the AAA rating has a strong signal effect – Liechtenstein continues to be one of only a few countries worldwide with this highest rating. S&P has awarded this rating with a positive outlook for 2020, signalling further optimism. For the LBA, this confirms that Standard & Poor's has great confidence in Liechtenstein as a location, in its institutions, and in its capacity to master economic and regulatory challenges.
The result also shows that our strategic orientation and positioning at the level of the Association – with our Roadmap 2020 – has been correct. LBA Chairman Hans-Werner Gassner looks ahead: "The Liechtenstein banking sector is characterised by comparatively very high capitalisation, healthy liquidity indicators, and a very low ratio of non-performing loans. S&P also confirms our very low risk as part of its regular industry assessment. At the same time, we are aware of our responsibility to do everything in our power, together with the Government, to safeguard and further develop these excellent characteristics of the Liechtenstein financial centre."
There is currently a great deal of uncertainty in Europe and worldwide. As a small country, Liechtenstein is especially highly dependent on developments abroad. In this respect, it is crucial that we continue to take care of the stability of the country and of the financial centre. The LBA therefore supports the measures contained in the Government's financial market strategy, which aim to strengthen governance and increase international recognition. We also support the goal formulated in the financial centre strategy to consider membership of the International Monetary Fund (IMF).
Further information on Liechtenstein as a business location and banking centre can be found in our Facts & Figures
