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Isle Of Man Retains AAA Rating From Standard And Poor's

by Carla Johnson, Investors Offshore.com, London

09 July 2008

Ratings agency, Standard and Poor’s has this week confirmed that the Isle of Man has retained its ‘AAA’ rating, the highest rating that it awards.

"Over the medium term, we expect that the Isle of Man's very strong credit standing will remain secure against almost all foreseeable downside economic, political, and financial risks," Standard & Poor's reportedly announced, adding that:

"The ratings are supported by the Isle's open, export-oriented economy, increasingly specialized in high value-added activities."

The Isle of Ma's Treasury Minister, Allan Bell MHK, welcomed the announcement, stating that:

“Despite the current volatility in world markets, the Isle of Man continues to demonstrate that it is a world class jurisdiction in which to do business.”

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