Affirmation of Guernsey's 'AA-/A-1+' credit ratings

21 July 2020

Guernsey's Standard & Poor's credit rating as been affirmed as 'AA-/A-1+' with a stable outlook.

Deputy Lyndon Trott, Vice-President of the States of Guernsey Policy & Resources Committee, said:

"S&P has noted that, like virtually all jurisdictions, COVID-19 will impact our economy but, because of our stability; our still low levels of debt; and our government liquid assets which are described as a 'key strength' and buffer against economic shocks, there is no change in our creditworthiness.

"Our credit rating was one of the key factors in recently being able to secure a revolving credit facility at attractive rates in order to provide funding for our immediate response to the financial consequences of the pandemic on our community."

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