Standard & Poor has reaffirmed the country’s rating as BBB / A-2, in the context of the crisis caused by the coronavirus. In this sense, they have valued very positively the health infrastructure as well as the economic measures that have been developed.
However, they are concerned about Andorra’s economic dependence on its neighbouring states, both for the flow of goods and people. They appreciate the progress made by the Government of Andorra towards joining the International Monetary Fund, as well as the association agreement with the European Union.
So, although they are revising the future outlook for Andorra from positive to stable, it is a positive result and they believe that Andorra has a significant resilience capacity.