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Standard & Poor’s confirms Luxembourg’s AAA rating with stable outlook
The ratings agency, Standard & Poor's, has recently affirmed Luxembourg’s AAA rating, making it the third agency to give the country a top rating. S&P based its rating on Luxembourg’s “prosperous economy, effective institutional framework and governance, sound fiscal position and strong net external asset position.” The Luxembourg government’s “strong budgetary position” was also noted by S&P.
In addition, the ratings agency forecast that the country’s real GDP will grow in the next three years and that the financial services sector will continue to diversify.
Luxembourg’s Minister of Finance, Pierre Gramegna, welcomed the news, stating: “the AAA rating is a cornerstone of the country’s attractiveness and thus a guarantee of growth and job creation.”
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