In its latest review, S&P has confirmed that there is no change to the long and short-term sovereign credit rating for Jersey with the outlook stable.
In its report, S&P noted that Jersey’s economy will remain comparatively insulated from global economic headwinds, owing to the broadly favourable impact of rising global interest rates on Jersey’s international banking sector.
The stable outlook reflects balanced risks to Jersey’s creditworthiness over our two-year outlook horizon. Jersey’s economy has rebounded strongly from the pandemic. Recent economic data showed that GDP was already above pre-pandemic levels in 2021, far outpacing peers such as the U.K.
The Minister for Treasury and Resources, Deputy Ian Gorst, said: “I am happy that our strong credit rating is confirmed by S&P as unchanged, despite the significant headwinds being experienced by economies around the world.
“S&P’s outlook for Jersey as a stable economy is something I’ll be working to maintain in the medium and longer term.”
The press release can be found on Gov.je.