Jersey Maintains AA+ Credit Rating
by Jason Gorringe, Lowtax.net, London
24 November, 2015
Jersey has welcomed the announcement from credit rating agency Standard and Poor's that it has maintained the territory's rating at AA+ with a stable outlook.
The agency said the decision reflects Jersey's "mature political and institutional setting, flexible policy environment, wealthy economy, and a healthy financial position underpinned by low debt and a high net general government asset position."
The credit rating agency also stated that "Jersey's economy had grown in real terms in 2014, mainly underpinned by strong profits in the financial services sector."
Jersey first received its AA+ rating in November 2013. It is the highest rating that a territory like Jersey can receive, as it does not have its own currency.
The island's Treasury and Resources Minister, Alan MacLean, said: "It is extremely positive news for Jersey that an international credit rating institution such as S&P continues to recognize our strong Balance Sheet. We have had a full and frank discussion about our fiscal position with them and our future plans have provided the comfort they need to maintain their high rating level. The outlook view remains stable reflecting their expectation that Jersey's economy will continue to grow."
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