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.
Picture: The Minister for Treasury and Resources, Deputy Susie Pinel
Deputy Susie Pinel, The Minister for Treasury and Resources commented:
“This is a really positive outcome and reflects that Jersey has demonstrated it has very strong capacity to meet its financial commitments through the work the Government has undertaken to bolster reserves and prepare Jersey for a potential economic downturn. The Government does, however, remain conscious of the potential risks to Jersey’s economy, pending the outcome of the UK’s future negotiations around Brexit. We will therefore continue to take a cautious approach in our financial planning.”
Moving to Jersey ensures you’re based in a strong and stable international jurisdiction. If you would like to make the move, get in touch with us today. Call +44(0)1534 440604 or email us at email@example.com
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