The international rating agency S&P Global Ratings has once again awarded Liechtenstein its highest rating, affirming the country's AAA rating with a stable outlook. This was the outcome of the half-yearly review of Liechtenstein's sovereign rating in May 2025.

Although the current assessment by S&P Global Ratings warns of the ongoing high level of uncertainty and the expected slowdown in global economic growth, Liechtenstein remains one of only 11 countries worldwide with the highest possible credit rating. The agency's decision to maintain this top rating is based in particular on the high flexibility and resilience of Liechtenstein's companies and its national economy. The positive development of public finances, the substantial State reserves, and the strong financial position of the public sector are also highlighted.

Looking ahead, the rating agency notes positively that, given the priorities of the new Government, it expects continuity and stability in economic and fiscal policy. The stable outlook reflects the view of S&P Global Ratings that Liechtenstein will remain able to safeguard its creditworthiness against global economic and financial uncertainties, thanks to its strong fiscal position, high policy effectiveness, and prudent regulatory framework.

Despite the positive assessment, the rating agency expects a slowdown in economic growth this year, including in Liechtenstein. The main reasons cited are geopolitical uncertainty, changes in US trade policy, and declining demand in Liechtenstein's key trading partners. Nevertheless, S&P Global Ratings anticipates that economic growth in Liechtenstein will recover as early as the following year. The agency highlights that Liechtenstein's economy has consistently demonstrated a strong ability to adapt swiftly to economic shifts.

S&P Global Ratings also anticipates that the Liechtenstein Government will continue its strong track record of proactively and swiftly adopting international standards and fostering effective cross-border cooperation. This applies in particular to the customs and monetary union with Switzerland and participation in the European Economic Area, both of which are highlighted as positive for Liechtenstein. S&P Global Ratings also welcomes Liechtenstein's accession to the International Monetary Fund (IMF). According to the rating agency, IMF membership is expected to enhance the timeliness and availability of the country's statistical data over the medium term. In addition, the IMF provides Liechtenstein with an extra liquidity buffer if needed, supplementing its own reserves, thereby further strengthening the country's resilience.

Prime Minister Brigitte Haas expressed her great satisfaction at the affirmation of the highest rating by the agency. The rating confirms Liechtenstein's attractiveness as a secure and stable business location. "Especially in light of today's geopolitical developments and the growing global economic challenges, the retention of the top sovereign rating can be seen as a major success for our country – and also as a mandate for us to continue working tirelessly for Liechtenstein," said the Prime Minister.