The States of Jersey’s international credit rating by Standard & Poor’s (S&P) has been re-affirmed as one of the best that the credit ratings service awards.
Standard & Poor’s Rating Services has affirmed its initial credit rating of ‘AA+ / A-1+ long and short-term sovereign credit rating with a stable outlook’ including its highest level ‘short-term rating of A-1+’.
The credit rating was first assigned in November 2013, after the States decided to proceed with the borrowing proposed in Budget 2014 for a £250 million bond to fund affordable housing refurbishment and construction. The rating process is now repeated annually with an update every six months.
Jersey's successful rating follows closely on Guernsey also receiving an AA+ credit rating from S&P, with the service also confirming that the outlook is stable.
The AA+ grade remains unchanged since S&P's last report on the island and is the highest that a jurisdiction such as Guernsey, without its own currency, can achieve under the agency's ratings methodology.
The international credit rating agency, Standard & Poor's, has assigned Guernsey a high grade AA+ credit rating and has confirmed that the outlook is stable.
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 agency's ratings methodology.
Gavin St Pier, Guernsey's Treasury and Resources Minister, said: "We are delighted that Standard & Poor's has reflected Guernsey's financial and economic stability with this AA+ rating.
"What is particularly welcome is the report's acknowledgement of the Island's prudent fiscal policies and strong track record of effective, stable and transparent policy making, together with its assessment of our stable outlook for the future."
- See more at: http://www.guernseyfinance.com/press-room/news/2014/10/guernsey-assigned-aaplus-credit-rating-by-sp/#sthash.BPGAw75G.dpuf
The international credit rating agency, Standard & Poor's, has assigned Guernsey a high grade AA+ credit rating and has confirmed that the outlook is stable.
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 agency's ratings methodology.
Gavin St Pier, Guernsey's Treasury and Resources Minister, said: "We are delighted that Standard & Poor's has reflected Guernsey's financial and economic stability with this AA+ rating.
"What is particularly welcome is the report's acknowledgement of the Island's prudent fiscal policies and strong track record of effective, stable and transparent policy making, together with its assessment of our stable outlook for the future."
- See more at: http://www.guernseyfinance.com/press-room/news/2014/10/guernsey-assigned-aaplus-credit-rating-by-sp/#sthash.BPGAw75G.dpuf