Jersey Finance has welcomed the Standard & Poor’s (S&P) international credit rating announcement for Jersey, 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+’. In its report, S&P stated: ‘Jersey has mature political and institutional settings, transparent economic decision-making and high fiscal flexibility.’
Geoff Cook, CEO Jersey Finance Limited, commented:
‘We know the importance that international investors attach to the political and economic stability of the jurisdiction when they consider their asset management strategies, so it is extremely valuable to the finance industry that Jersey has retained such a strong and positive assessment from the credit rating agency once more. It will be particularly helpful when highlighting the industry’s strengths in the competitive overseas markets where Jersey is stepping up its presence.”
The credit rating was first assigned in November 2013 and the rating process is repeated annually with an update every six months.
First published by Jersey Finance Limited, November 2014