Standard & Poor’s confirms the long-term sovereign rating of Andorra at the level of “BBB / A-2” and maintains a stable outlook. Analysts of the agency positively rate the reform program in Andorra, good financial results and rapprochement with international standards.
The agency points out that the rating can be raised if Andorra’s negotiations with the European Union end with an association agreement. In addition, if Andorra joins financial institutions such as the IMF, this can ensure the stability of the system in the Principality.
S&P also notes the positive evolution and progress in management, supervision and control policyimplemented by Andorra National Institute of Finance (INAF) and the Financial Intelligence Department.