Fitch Ratings affirmed Malta's long-term foreign and local
currency Issuer Default Rating (IDR) at 'A'. The outlooks
are stable.
The issue ratings on Malta's unsecured foreign and local
currency bonds were also affirmed at 'A'. The agency
affirmed Malta's short-term foreign-currency IDR at
'F1' and the country ceiling at 'AAA'.
In its report, Fitch noted that GDP growth in Malta was
outperforming the eurozone average.
"In 2013 the economy grew by 2.9 per cent, better than 2012
(1.1 per cent) and higher than the eurozone average (negative 0.4
per cent), but still below the 'A' median of 3.4 per cent
over five years. In the first half of the year, real GDP grew by
3.5 per cent, mainly driven by domestic demand, underpinned by the
reduction in electricity tariffs and favourable labour market
conditions."
