Luxembourg's AAA ratings confirm strong economic foundations
Luxembourg has once again secured the highest possible sovereign credit rating from all major agencies.
Andrea Kuhfuss
11/11/2026
In October 2026, Morningstar DBRS and Fitch Ratings confirmed the country's AAA rating with a stable outlook. This follows earlier confirmations from S&P Global Ratings, Moody's and Scope Ratings.
The agencies point to Luxembourg's strong economic fundamentals, sound public finances and effective institutions. They also highlight the country's political stability and advanced, prosperous economy.
The latest assessments come at a time of growing international uncertainty. The agencies note increasing budgetary pressures linked to higher social spending, rising interest costs and continued public investment in infrastructure, housing, defence and the energy transition.
The agencies nevertheless view Luxembourg's fiscal position as stronger than that of most euro area countries.
Looking ahead, the agencies expect the economy to continue growing steadily over the coming years. A resilient financial sector is expected to remain an important driver of that growth. At the same time, they note that geopolitical tensions and volatility in global financial markets continue to pose external risks.
These are the first sovereign ratings published since the presentation of Luxembourg's 2027 budget. Together, they underline the country's strong economic foundations and long-term stability.
