22 November 2013

Jersey walks away from S&P rating with AA+

The States of Jersey have been awarded one of the best international credit ratings possible by S+P, a development that according to Jersey Finance is “very welcome news”. S&P has also given Jersey a stable outlook and short term rating of A-1+.

Jersey Finance CEO Geoff Cook said: “Jersey being awarded the highest international credit rating possible is clearly very welcome news indeed, and provides us with a further globally recognised metric that can support Jersey’s reputation as a stable, robust jurisdiction on the international stage.”

According to Cook the high rating will be particularly helpful in enhancing the Island’s relationships with Russia, the Middle East, the Far East and Africa, where jurisdictional stability is an important issue.

He concluded: “as well as highlighting Jersey’s strong policy settings and the fact that Jersey has no public debt, the S&P report also reflects the maturity of Jersey’s financial services infrastructure, the high quality service and regulatory standards organisations adhere to, the strong liquidity of Jersey’s banking system and the safeguards that are in place to protect investors.”