27 January 2017
Jersey’s credit rating has been assessed by Standard & Poor’s (S&P) as part of the agency’s regular, bi-annual review. Following this assessment the agency has maintained the Island’s credit rating, one of the highest possible at AA-.
In its report, S&P noted –
“Our ratings on Jersey reflect our view of the Island’s strong and flexible institutions, wealthy economy and considerable fiscal buffers.
The stable outlook reflects our view that, over the next two years, the risks to Jersey’s financial sector and its fiscal performance will be balanced by its still-significant economic resilience.”
Treasury and Resources Minister, Senator Alan Maclean, said “This is extremely good news for Jersey, it confirms our fiscal plans are robust. We have been able to demonstrate how Jersey’s financial sector has changed and how non-bank financial services has grown.
The Chief Minister, Senator Ian Gorst, said “This is a positive report from a globally recognised rating agency. It acknowledges Jersey’s strong economic foundations and sees the Island as having a healthy overall fiscal position.
“The agency’s report does point out that economic uncertainty in the UK could impact on Jersey. This is something we have anticipated and are planning for and it is also pleasing to note the agency’s view of our economy as remaining resilient.
“We have been able to update S&P on the work underway as a result of Brexit and they share our view that our institutional relationships with the UK and EU are not expected to materially change.”
gov.je