Premier and Minister of Finance, the Hon. David Burt, JP, MP, today announced that ratings agency Moody's Investors Service (Moody’s) has affirmed Bermuda's A2 issuer ratings and its A2 senior unsecured bond ratings. The outlook remains stable.
Premier Burt stated, “According to Moody’s, the key drivers for the rating affirmation are our economic strength, with improved medium-term growth prospects; the continuation of a prudent fiscal policy that will eventually improve our debt burden, and our strong institutions and robust and adaptive regulatory environment, which allows us to maintain a low susceptibility to events risks. The stable outlook reflects Moody’s view that Bermuda’s improving fiscal prospects are balanced by a still-recovering economy and a continued, albeit relatively low, susceptibility to shocks stemming from changes in policies in other countries that could materially impact our economic structure.”
Premier Burt added, “I am pleased that Moody’s has affirmed Bermuda’s A2 issuer rating and our A2 senior unsecured bond ratings. This Government’s focus on sound economic and fiscal policies, working collaboratively with traditional industry partners while introducing new financial legislation and exploring feasible options to diversify our economy is strengthening Bermuda. This translates to stronger financial growth which will mean more jobs and opportunities for Bermudians.”