Treasury Minister Eddie Teare MHK has confirmed that Moody’s Investors Services is to review the Isle of Man’s Aaa government bond ratings.
Mr Teare says the move is not unexpected in a changing global economic climate. The Minister commented:
‘Around the world countries large and small have had their credit ratings reassessed and this is all part of that process. The Isle of Man has been proactive in dealing with the growing pressures on international finance centres, but it is not surprising that those pressures have led Moody’s to review our ratings. We look forward to working with them in this exercise.’
