Standard & Poor’s Credit Rating increases Malta’s Credit Rating to ‘A-‘ First Increase in 20 years
- Malta’s Economy Predicted to increase 25%
- Influx of Foreign Workers a Contributing Factor
Continuing Malta’s unprecedented and unmatched growth within the EU, Standard & Poor’s has raised Malta’s long-term rating to ‘A-‘, predicting that the economy will continue to grow by an average of 3 per cent a year until 2019.
The agency raised its long-term sovereign credit ratings on Malta to ‘A-‘ from ‘BBB+’. The upgrade reflected what S&P called “Malta’s improved credit metrics”, including:
- Strong real GDP growth
- Deficits below 1 per cent for the 2016-19 period
- Durable current account surpluses
Malta’s outlook remains stable, reflecting S&P’s view that:
the upside potential of Malta’s economic and fiscal performance is counterbalanced by downside risks related to Brexit, external flows, and the structure of the financial sector.”
Malta’s short-term foreign and local currency sovereign credit rating remained stable at ‘A-2’.