The Andorran Financial Authority published an update on Fitch Ratings’ latest sovereign assessment of Andorra, which maintains the country’s rating at A- with a stable outlook. Fitch points to economic growth of 3.4% in 2024, driven mainly by tourism, construction and financial services, alongside GDP per capita and governance indicators that are above the average for similarly rated ‘A’ sovereigns. The report also highlights the banking sector’s strength, citing adequate capitalisation and liquidity and linking resilience to sector consolidation and adaptability, which it says has reinforced financial stability. Fitch again notes the Association Agreement with the European Union as an opportunity to support medium- to long-term economic diversification and greater integration into the European market.
Andorran Financial Authority 2025-04-07
Andorran Financial Authority reports Fitch affirmation of Andorra’s A- sovereign rating with stable outlook
The Andorran Financial Authority reported that Fitch Ratings has maintained Andorra's sovereign rating at A- with a stable outlook. Fitch cites 3.4% economic growth in 2024, driven by tourism, construction, and financial services, and highlights the banking sector's strength due to adequate capitalisation and liquidity. The Association Agreement with the European Union is seen as a potential driver for economic diversification and integration.