On September 11 2020, the credit rating agency Standard & Poor’s maintained the Grand Duchy’ AAA status with a stable outlook. DBRS Morningstar and Fitch had already confirmed Luxembourg’s triple A rating earlier this summer. Praise for Luxembourg included the effective management of the COVID-19 pandemic and sound public finances resulting from recent years of prudent fiscal policies. The agency believes that the measures implemented to protect employees and businesses will successfully mitigate the impact of the current health crisis on the country’s GDP and that the economic recovery is already well underway.
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