The Falkland Islands retain their global A+ rating
The Falkland Islands Government (FIG) is pleased to announce that S&P Global Ratings have confirmed that the sovereign rating for the Falkland Islands remains at A+ with a stable outlook.
The A+ investment grade credit rating means that the government has continued to demonstrate sufficient and strong capacity to meet its financial commitments, including maintaining a good future outlook, where our robust economic position is supported by prudent financial decision-making.
The assessment by S&P Global Ratings follows a detailed review of updated fiscal and economic information, which includes the recent borrowing of £150 million, supported by a process of confidential interviews with FIG officers and other stakeholders, including representatives of the business community.
Financial Secretary, Pat Clunie, said: “The S&P Sovereign rating is used globally and provides external assurance of our strong public finances, the continuing robustness of our economy and ongoing prudence in fiscal policy. The continued A+ rating, which incorporates our £150 million borrowing, provides an excellent platform to support our future economic growth and investment and is something the Falkland Islands should be proud of. I would like to thank everyone involved for all of their efforts throughout this process.”
Portfolio Lead for Corporate Government Services, MLA Roger Spink, added: “It is pleasing that S&P continue to recognise the strengths of the financial position of the Falkland Islands. The A+ rating has been achieved on the basis of the many years of political and economic stability found here in the Islands. Retaining this status sends a strong signal of economic strength and continues to provide the Falklands community and outside investors with the reassurance that we are careful stewards of our economy and government finances.”
***
ENDS
