Guernsey’s Outlook Remains "Stable" Despite Global Economic Storms – S&P

International credit rating agency Standard & Poor's has reaffirmed its view of Guernsey's financial and economic stability after giving Guernsey the highest rating possible against its newly revised technical scoring methodology.

The changes in the methodology mean that Guernsey's sovereign credit rating has been revised to AA+, which is now the highest rating a jurisdiction without its own currency is likely to achieve.

In its November 2011 report Standard & Poor's says that the high grade credit ratings for Guernsey "continue to be supported by Guernsey's success in attracting foreign financial institutions, its prosperity, and its very strong government balance sheet."

The report illustrates that Guernsey's strong and stable economic and fiscal position has not changed despite the continuing global economic downturn. This reinforces last week's Financial Stability Board report that put Guernsey in the top tier of jurisdictions that contribute to