Fitch confirms Switzerland’s ‘AAA’ rating – outlook ‘stable’
Published: Monday, Oct 21st 2024, 13:00
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The US rating agency Fitch continues to rate Switzerland's creditworthiness with the highest rating. Switzerland's foreign-currency issuer default rating (IDR) was confirmed at 'AAA' with a stable outlook.
This rating reflects "a high value-added economy with above-average income and governance indicators", Fitch announced at the weekend. The agency also emphasized Switzerland's strong net creditor position and the reserve currency status of the Swiss franc. The country's macroeconomic stability is supported by prudent economic and financial policies and its public debt is among the lowest of the 'AAA' rated countries.
Although the strong banking sector could become a liability for the state, the integration of Credit Suisse into UBS should not pose a material risk to either the financial sector or the federal budget, according to Fitch.
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