The international rating agency S&P Global Ratings has once again awarded Liechtenstein its top rating and confirmed the country's AAA rating with a stable outlook. This was the result of the semi-annual review of Liechtenstein's country rating in May 2025.

Although S&P Global Ratings also warns of the current high level of uncertainty and the expected slowdown in global economic growth in its current assessment, Liechtenstein remains one of only 11 countries in the world with the highest possible credit rating. The rating agency bases its retention of the highest rating for Liechtenstein in particular on the high flexibility and resilience of Liechtenstein companies and the Liechtenstein economy. The positive development of the national accounts, the high level of state reserves and the good financial position of the public sector are also particularly emphasized.

Looking to the future, the rating agency emphasizes positively that it expects economic and fiscal policy to remain stable in view of the new government's priorities. The stable outlook forecast reflects S&P Global Ratings' view that Liechtenstein's strong fiscal position, high policy effectiveness and prudent regulatory framework can continue to protect the country's creditworthiness from global economic and financial uncertainties.

Despite the positive assessment, the rating agency also expects a slowdown in economic growth in Liechtenstein this year. The main reasons cited for this are geopolitical uncertainty, the change in US trade policy and falling demand in Liechtenstein's most important trading partners. Nevertheless, S&P Global Ratings expects economic growth in Liechtenstein to recover in the following year. The rating agency emphasizes that Liechtenstein's economy has always been able to adapt very quickly to economic changes in the past.

S&P Global also expects the Liechtenstein government to continue its track record of proactive and rapid adoption of international standards and profitable cross-border cooperation. This applies in particular to the customs and monetary union with Switzerland and the European Economic Area, both of which are highlighted as positive for Liechtenstein. S&P Global Ratings also positively emphasizes Liechtenstein's accession to the International Monetary Fund (IMF). According to the rating agency, IMF membership should improve the timeliness and availability of the country's statistical data in the medium term. Furthermore, the IMF offers Liechtenstein an additional liquidity buffer in addition to its own reserves should the need arise, thus further contributing to the country's resilience.

Head of Government Brigitte Haas is very pleased that the rating agency has once again awarded the highest rating. The rating confirms Liechtenstein's attractiveness as a secure and stable business location. "Especially against the backdrop of today's geopolitical developments and the increasing global economic challenges, retaining the top score in the country rating for our country can be seen as a great success - and also as a mandate for us to continue working hard for our country," said the Head of Government.

Source: https://regierung.li/medienportal-medium/16182/233647/0/medienmitteilung