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Cayman Islands’ High Rating, Stable Outlook Maintained

Moody’s, one of the world’s foremost financial rating agencies, has maintained its very high rating of Aa3 for the Cayman Islands.

Moody’s, one of the world’s foremost financial rating agencies, has maintained its very high rating of Aa3 for the Cayman Islands.

The Cayman Islands has retained the Aa3 rating, and its accompanying stable outlook, continuously since 2000.

In its latest report, Moody’s outlines that the high rating reflects a number of important considerations satisfied by the Cayman Islands. These include:

  • a very high per capita Gross Domestic Product (GDP) – the latest figure for which is US$55,075;
  • a Debt-to-GDP ratio of 22.4% at the end of 2013, which is a comparatively low debt burden viewed against other rated jurisdictions;
  • a high score for governance indicators along with its political connection to the United Kingdom; and
  • a very low susceptibility to Event Risk.

The Minister for Finance and Economic Development, Hon. Marco Archer said: “The Government is very pleased with the high rating for the Cayman Islands being maintained and, equally important as the high rating itself, the outlook for the rating is stable. This should encourage investors to have utmost confidence in the Islands’ future.”

Moody’s latest report dated 5th December 2013 can be found, in full, on the Features section of www.gov.ky.

For further information contact: Bina Mani