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Jersey’s credit rating revised to stable by S&P

Standard & Poor’s (S&P) have reviewed Jersey’s credit rating and revised the outlook from negative to stable. This assessment reflects the potential direction of a long-term credit rating. The long and short-term sovereign credit ratings have remained at AA-.

The review was part of a cyclical 6-monthly assessment and echoes the revision given to the UK. The UK’s revision is a result of their December 2019 election, which S&P believe will give the UK Government more room to engage with the EU.

In their report, S&P highlighted Jersey’s sizeable fiscal buffers, noting their importance in the strength rating. S&P estimated Jersey’s assets at more than 120% of GDP at the end of 2019.