Standard & Poor’s (S&P) have confirmed that Jersey’s credit rating is unchanged at AA-/A-1+.
In its report S&P noted that its rating is based on a stable outlook for the Island, which is underpinned by the Government’s strong balance sheet and substantial reserves. It’s also supported by strong and flexible institutions, a healthy economy, and affordable borrowing programme.
What is the S&P rating? It is a credit score that describes the general creditworthiness of an entity (company, city, or country that issues debt). S&P rates how likely debt will be repaid from the entity in question. The ratings are for informational purposes only – they are not investment recommendations, nor do they predict the probability of default.
The Minister for Treasury and Resources, Deputy Susie Pinel, said: “I am pleased that our strong credit rating is unchanged, and that S&P continues to see Jersey as a stable economy.”
