On the 19th of July, Standard & Poor's Ratings Services affirmed its long and short-term sovereign credit ratings on the Republic of Malta at 'BBB+/A-2'. The outlook on the long-term rating is stable. The transfer and convertibility (T&C) assessment on the Republic of Malta remains at 'AAA'.
Please find below some of the key reasons/comments Standard & Poor’s considered to base its rating on Malta:
- “The ratings are supported by our view of Malta's relatively strong institutional and governance effectiveness, and its prosperous economy.”;
- “We expect Malta's real GDP per capita growth to increase marginally to 0.7% in 2013 and to remain below pre-crisis rates for the next few years.”;
- “Malta's growth performance has been one of the strongest in the European Economic and Monetary Union (eurozone) with real GDP per capita averaging just below 1% annually between 2007 and 2012. Manufacturing and services exports have been key drivers of the economy.”;
- “Malta's domestic financial system appears stable. The presence of internationally oriented banks poses little threat to the government by way of contingent liabilities”.
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