Cayman's Economic Policy Praised by Investor Services
In its recently issued annual report on the Cayman Islands, one of the major international credit rating agencies, Moody's Investor Services, gives us a credit rating of Aa3, which signifies very strong creditworthiness relative to other domestic issuers. The modifier 3 indicates a ranking in the lower end of that generic rating category.
Moody's attributed the country's high rating to our resilient tourist sector, high per capita income and prudent economic policy framework.
The agency also noted the cooperative response of the Cayman Islands authorities with regard to US and European Union concerns on money laundering through its offshore banking sector and reported a similarly satisfactory result in response to the OECD initiatives on tax issues.
The report commended the Cayman Islands' strong and flexible regulatory framework, stable political system, favourable social indicators and an encouraging external debt situation.