Jersey still has top credit rating – despite predicted deficit

American financial services company Standard & Poors has affirmed the Island’s ‘AA+/A-1 + long and short-term sovereign credit rating, with a stable outlook for the States of Jersey’.

The States was assigned the status two years ago to allow it to proceed with a £250 million bond with the UK to pay for investments in affordable housing over the next decade.

Treasury Minister Alan MacLean described it as ‘positive news’ for Jersey.

‘We have had a full and frank discussion about our fiscal position with them and our plans to deal with it and this has provided the comfort they need to maintain their level of rating with their outlook view remaining stable,’ he said.

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