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Guernsey Retains AA+ Credit Rating

by Jason Gorringe, Lowtax.net, London
28 April, 2015

The Guernsey Government has welcomed an announcement from Standard & Poor's that the territory's credit rating remains at AA-plus, with a stable outlook.

Guernsey said it welcomes the "excellent assessment," stating that it highlights a number of economic and financial strengths, which include the territory's 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 rating that a jurisdiction that does not have its own currency can achieve under the agency's ratings methodology.

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