Monday 27 April 2015
The international credit rating agency, Standard & Poor's, have updated their rating of Guernsey following December's bond issue. Guernsey remains at AA+ (Stable outlook), which represents an excellent assessment. It highlights a number of economic and financial strengths which include the States' revenue flexibility and sizable assets underpinned by the government's robust fiscal position.
The Treasury Minister Gavin St Pier said:
"This rating confirms the continued strength and robustness of Guernsey's economy and public finances. S&P's assessment of a wealthy and open economy, accountable institutions and prudent fiscal policies demonstrates that the Island is well positioned to thrive and grow in the years ahead."
The AA+ grade remains unchanged since Standard & Poor's last report on the Island and is the highest that a jurisdiction such as Guernsey, without its own currency, can achieve under the ratings methodology.
-ENDS-
