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S&P reaffirms Luxembourg's AAA rating
Standard & Poor's has reaffirmed Luxembourg's AAA rating, citing the country's solid governance and institutions and its net international creditor position. The agency expects the Government to maintain fiscal stability by taking measures in response to international pressures on its tax system that affect the economy and the generation of tax revenues.Our ratings on Luxembourg reflect our view of its prosperous economy, effective institutional framework and governance, sound fiscal position, and strong net external asset position. Financial services in Luxembourg account for a significant share of economic output, export revenues, and fiscal receipts. The financial sector is facing international regulatory pressures, which, in our view, are balanced by its size and diversity, as well as our view of the government's ability to adjust its policies to these challenges.
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