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.
