Jersey Finance has welcomed the awarding of a AA+ Long Term Issuer Default Rating – one of the top international credit ratings – to The States of Jersey by Standard and Poor’s (S&P).
In addition, S&P has also given Jersey a stable outlook and a short term rating of A-1+, again the highest level possible.
Geoff Cook (pictured), chief executive, Jersey Finance, says: “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. Particularly in enhancing relationships with Jersey’s key markets overseas, including Russia, the Middle East, the Far East and Africa, where jurisdictional stability is such an important issue, this rating can provide investors and business contacts with a great deal of certainty and confidence in Jersey’s future as a leading International Finance Centre.
“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, such as the banking depositors’ compensation scheme.”