Moody's assessment welcomed by treasury minister
The Isle of Man Government’s credit rating remains ‘stable’.
International agency Moody’s has assessed it as Aa3 – the same as the United Kingdom.
According to Treasury Moody’s has noted the Island’s credit strength, diverse economy and substantial reserves.
Minister Alex Allinson said: “I welcome the latest review from Moody’s which, as always, provides a thorough independent assessment of the Isle of Man’s economic position.
"The Treasury’s efforts to reduce a reliance on reserves in recent years is acknowledged and this remains a key priority as we approach February’s Budget announcements.
"The Island isn’t alone in facing sustained financial challenges particularly around the rising cost of health and social care.
"We are, however, able to continue working from a firm economic base — as the report makes clear — with the forecast of positive economic growth and a resilient and diverse economy."
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