FLSW - Switzerland's AAA credit rating affirmed by Fitch

Fitch Ratings affirms Switzerland's long-term foreign currency issuer default rating at AAA, the highest level of investment-grade rating.Outlook is stable.The ratings and outlook reflect "a diversified and high value-added economy (GDP per capita 1.3x the 'AAA' median) and very strong governance and human development indicators," Fitch says.The rating is also supported by the country's "very large net external creditor position, high and persistent current account surpluses, and the global reserve currency status of the Swiss franc."The size of its banking sector represents a contingent liability risk for the sovereign, but it has sound credit fundamentals.Fitch revises its GDP growth for Switzerland to -3.3% in 2020 from its previous view of -7.0%; it sees 2021 GDP growth of 3.4%, up a hair from its previous forecast of 3.3%.ETFs: [[FXF]], [[EWL]], [[SWZ]], [[FSZ]], [[FLSW]], [[UCHF]], [[DCHF]]

For further details see:

Switzerland's AAA credit rating affirmed by Fitch