Fitch Ratings has affirmed Luxembourg’s AAA rating, and pointed out Luxembourg’s relatively good performance in GDP growth.

Several statements indicate the key spots that will be considered in future assessments:

  • Luxembourg’s greater volatility due to the reliance on financial services and its risks
  • The total balance sheet of the financial sector is 70X GDP, though this is not indicative of potential risks.
  • Luxembourg’s debt and Eurozone liabilities are increasing
  • Future social security liabilities and costs, though known but ignored and invisible now, will become a shock in about 2030, if unattended.

Fitch Affirms Luxembourg at ‘AAA’ Outlook Stable