Citing the principality’s long-standing political and economic stability, as well as its handling of regulatory requirements; the international ratings agency awarded Liechtenstein its highest possible rating.
S&P reviewed its ratings on Liechtenstein after placing them on CreditWatch with negative implications on 12 February 2016.
The ratings agency concluded that the principality will be able to cope with complex regulatory challenges in the coming year, while maintaining high wealth levels and debt-free public accounts.
Bucking the trend
In contrast, Jersey and Guernsey both had their long-term foreign and local sovereign credit ratings downgraded for their highest possible level of “AA+” to “AA” last month.
Both crown dependencies attributed their respective downgrades to a possible Brexit, despite S&P citing the G10’s rising focus on low-tax regimes and the impact that may have on their financial services sectors as the driving force behind its decisions.
No S&P rating was given for the Isle of Man after the island requested that it withdraw its rating in February 2014. The Isle of Man is rated by Moody’s, which downgraded it from Aaa to Aa1 in December 2013.