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Malta receives positive credit ratings
By MaltaMedia News
Aug 2, 2008 - 10:45:26 AM
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Malta has received an 'A' and 'A-1' rating for long-term and short-term sovereign credit ratings respectively by ratings agency Standard & Poor's Ratings Services, according to www.iii.co.uk
S&P are quoted as saying that "The stable outlook balances our expectation of continued fiscal consolidation against the challenges of the economic reform agenda in combination with a declining, but still high, debt burden."
The agency stated that the backing the local private sector receives from the Maltese governmentfor its diversification into higher value-added manufacturing, as well as into new services sectors should decrease the volatility of Malta's growth path. This should also moderate the local economy's vulnerability to external shocks.
© Copyright 2008 by MaltaMedia.com
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Latest update:
Aug 3, 2008 - 2:21:51 PM CET
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