Moody's affirms the Cayman Islands' Aa3 rating; maintains stable outlook
- Moody's Investors Service ("Moody's") yesterday affirmed the Cayman Islands' Aa3 government bond and issuer ratings. At the same time, the rating outlook was maintained at stable.
- The action reflects Cayman Island’s continued fiscal surpluses that have resulted in low and falling government debt metrics. The rating action also considers Cayman’s very high per-capita income which is balanced by the risks posed by its small, narrow economy that is susceptible to weather-related shocks.
- Additionally Moody’s also took into account Cayman’s strong institutional framework, reflecting a broad consensus on macroeconomic policies, supported by fiscal oversight from the UK.
(Source: Moody’s Investor Service