Island's credit rating unchanged
The Treasury Minister has welcomed the annual report on the Isle of Man Government’s financial standing from the international credit ratings agency Moody’s.
The report provides updated analysis of the Island’s economic and fiscal position but does not change the credit rating, which remains Aa1 negative, the same as the United Kingdom’s.
Moody’s notes the resilience and diversity of the Isle of Man’s economy, and its ‘very strong’ public finances.
The report identifies the key credit challenge for the Island as the uncertainty created by Brexit.
Alfred Cannan says the latest update from Moody’s confirms the good health of the Island’s economy and "confidence in very strong public finances."
However, he adds that there is "no room for complacency"
Moody’s annual report on the Isle of Man Government’s financial standing is available at https://www.moodys.com/ (registration required).