The Isle of Man has been given an AAA credit rating by both Standard & Poor's and Moody's - the highest possible award. The award reflects the buoyancy of the Isle of Man's economy - the Island boasted Europe's fastest growing economy in 1997/98 - the Island's track record for prudent budget management, including its high level of reserves and low level of public debt, and the Island's mutually beneficial relationship with the UK.
Commenting on the announcement, Andrew Smith, Isle of Man Government International Services Division, said : "The award of the AAA credit rating is impressive third party endorsement of the Isle of Man and its economy. It is thanks to our position as a most progressive and successful offshore jurisdiction that we have been given this endorsement."
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