Luxembourg maintains high credit rating positions

DBRS Morningstar confirmed the AAA credit rating of the Grand Duchy based on key metrics. This was facilitated by the results of the tripartite meeting and the Yuriko Bakes’ budgetary policy.

The rating agency noted the efficiency with which the state weathers the energy crisis. There is a general decline in interest in lending for obvious reasons. Households and companies are moving into savings mode, and the key rates of the ECB have also risen sharply. However, Luxembourg has a well-thought-out budget policy that will allow it to provide support to those in need without destroying other areas of the economy.

DBRS Morningstar also said that the banking sector is quite stable despite the decline in consumer demand. This is also an important aspect that allowed the agency to assign an AAA credit rating to the country.