the swiss times

the swiss times

Fitch Gives Switzerland An ‘AAA’ Rating For Stability

Fitch Gives Switzerland An ‘AAA’ Rating For Stability

Sun, Apr 28th 2024

Switzerland’s economic stability shines as Fitch reaffirms its AAA rating.

Keystone/EPA/JUSTIN LANE

The US rating agency Fitch has maintained its top rating for Switzerland’s creditworthiness. The agency also emphasised Switzerland’s strong net creditor position and the reserve currency status of the Swiss franc.

Switzerland’s foreign currency issuer default rating (IDR) for long-term liabilities in foreign currencies was confirmed at ‘AAA’ with a stable outlook.

This rating reflects “a high value-added economy with income and governance indicators above the median level of the rated countries”, Fitch said.

The country’s macroeconomic stability is supported by prudent economic and fiscal policies and its public debt is the lowest among the ‘AAA’ rated countries.

According to the press release, Fitch expects economic growth in Switzerland to rise to 1.2% in the current year, with sporting events and stable consumption – supported by the low inflation rate – likely to contribute to this.

Fitch expects GDP growth of 1.7%t in 2025 thanks to increasing domestic investment.

©Keystone/SDA

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