Standard & Poor's improves the outlook on Andorra

Press Release

22/07/2019

The rating agency Standard & Poor’s has revised the outlook for the Principality of Andorra from stable to positive and has reaffirmed the rating in 'BBB / A-2'. In the note published by the agency this Friday night, the evaluators recognize the government's continuity in policies of alignment with international standards.

The rating agency positively assesses the balanced budgetary management of the Executive, based on a moderate and comparable fiscal framework and a progressive reduction in public debt and highlights the solid fiscal framework and positive economic developments.

They also highlight the will expressed by Andorra to join the International Monetary Fund that could mean an improvement in Andorra's rating, as well as the evolution of negotiations for an Association Agreement with the European Union that would allow access to the internal market.

Once again, Standard & Poor’s has insisted on the implementation of the regulations carried out by the Principality in the field of good practices of the financial system in relation to money laundering and financing of terrorism.

 

Source: The Government of Andorra´s Department of Communication