The Minister of Finance, the Hon. Curtis L. Dickinson, JP, MP, today announced that ratings agency Standard & Poor’s (S&P) has affirmed Bermuda's A+ long-term sovereign credit and senior unsecured debt ratings as well as its A-1 short-term rating and its AA+ transfer and convertibility assessment on Bermuda. The outlook is positive.
Minister Dickinson stated; “According to S&P, the key drivers for the rating affirmation are our economic strength, especially in the tourism and construction sectors, as well as the improving fiscal results. The ratings agency further explained that our positive outlook reflects that we have a ‘one-in-three’ chance of a ratings upgrade, by one notch, in the next year if we sustain the improvement in economic growth and fiscal prudence.”
Minister Dickinson further stated; “I am pleased that S&P has affirmed Bermuda’s A+ long-term sovereign credit and senior unsecured debt ratings as well as is considering a positive rating action if we are able to sustain the improvement in our economic and fiscal position. This Government’s focus on credible economic and fiscal policies, working collaboratively with our industry partners and exploring realistic opportunities to diversify our economy is strengthening Bermuda. The end goal is a sustainable, prosperous and inclusive economy for all of Bermuda.”