Sunday 27 September, 2020

Bermuda maintains credit rating

Bermuda has retained its A+ rating for long term sovereign credit in Standard and Poor’s (S&P) latest assessment of the territory.

Minister of Finance, Curtis Dickinson said the review of Bermuda’s credit worthiness came as the Government signalled its intention to issue bonds.

“While there is an expectation that the overall debt level will have a modest increase, S&P considered our healthy current account surpluses and large liquid assets were sufficient to support us through an economic recovery next year,” Dickinson stated. 

“I am pleased to report S&P has affirmed Bermuda’s A+ long-term sovereign credit and senior unsecured debt ratings and importantly that their outlook remains stable. A significant factor was the Government’s prudent management of the coronavirus (COVID-19) pandemic which resulted in the safe and successful reopening of our economy, allowing businesses to reopen and people to go back to work.”

Dickinson added that the Government views S&P’s assessment “as a vote of confidence” in their people-centred approach to get the Bermuda economy back on track. 

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