Malta gets A+ rating from Creditreform Rating AG

0 Comment(s)Print E-mail Xinhua, November 26, 2017
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VALLETTA, Nov. 25 (Xinhua) -- International credit agency Creditreform Rating AG has affirmed the unsolicited long-term sovereign rating of "A+" for Malta, Maltese government announced in a statement Saturday.

Creditreform Rating has also affirmed Malta's unsolicited ratings for foreign and local currency senior unsecured long-term debt of "A+". The outlook is stable.

It said that the A+ rating was driven by the very strong growth performance exhibited by the Maltese economy, which expects to remain among the strongest in Europe in 2017 and 2018.

Creditreform also attributes the positive rating to the advancements in budget consolidation in 2016, which it expects to continue in the medium term.

The agency said it expects Malta to make further progress on debt reduction, with the government's debt-to-GDP ratio falling close to 50 percent in 2018.

Meanwhile, Malta has room to improve when it comes to the level of perceived corruption and the effectiveness of policy formulation and implementation, according to the agency.

It also said that potential vulnerabilities associated with the large stock of external liabilities are tempered by the pivotal role of core domestic banks for private sector funding, significant external assets, and sustained current account surpluses. Enditem

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