Rating remains unchanged
Treasury Minister Eddie Teare has welcomed confirmation the Isle of Man’s Aa1 credit rating by Moody’s Investors Service remains unchanged.
Moody’s says the Isle of Man’s Aa1 sovereign rating and stable outlook reflect the island’s resilient economy and the government’s robust finances.
It adds the former is supported by the economy’s growth, which is stronger and less volatile growth than that of other offshore centres, as well as its significant diversification away from banking towards high growth sectors such as ICT, despite being a small economy.
Mr Teare says whilst the report’s conclusions demonstrate the Isle of Man’s continued and sustained economic success, we must remain vigilant in maintaining sustainable public finances.
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