The ratings are supported by a wealthy, diversified economy, low public debt and a strong external position. Financial imbalances and uncertainty around Swiss-EU relations represent credit challenges.

The ratings are supported by a wealthy, diversified economy, low public debt and a strong external position. Financial imbalances and uncertainty around Swiss-EU relations represent credit challenges.

The ratings are supported by a wealthy, diversified economy, low public debt, and a strong external position. Financial imbalances and uncertainty around Swiss-EU relations represent credit challenges.

A diversified and wealthy economy, prudent fiscal management, strong external position, and deep capital markets support the rating. Adverse demographics, a large and concentrated banking sector, and exposure to real estate risk remain challenges.