5 December 2019
St Helena has achieved a Credit Rating of BBB- (stable or Investment-Grade), from global credit-rating agency Standard & Poors (S&P). This results from a visit to the Island by an S&P team in October.
During their credit rating exercise here, at their request, the team met with a range of local business people, such as those in the retail sector, media sector and at the Bank of St Helena. They also analysed a significant amount of data provided to them including SHG’s statistics and accounts.
Chief Economist, Nicole Shamier, said:
“We want to thank both the S&P team and everyone who took the time to meet them whilst they were here and provide the evidence which enabled them to furnish us with this very good result. This document is a very useful record of where St Helena stands in the world as a place to invest and do business as well as complementing our Statistics and Economics evidence. Not only is St Helena ready and open for business, the BBB- rating means we are ‘investment-grade’ and therefore somewhere worth investing in.”
Gaining a Credit Rating is an action outlined in our Sustainable Economic Development Plan. The rating will assist the recognition of the St Helena jurisdiction amongst the International Banking and Finance sector. It also helps external investors understand more about the investment environment which includes political, financial, legislative and environmental factors.
S&P’s report is available on the SHG website here: https://www.sainthelena.gov.sh/government/public-information/
S&P also delivers Montserrat’s credit rating as well as other British Overseas Territories.
Further information can be found at: https://www.spratings.com/documents/20184/760102/SPRS_Understanding-Ratings_GRE.pdf
#StHelena #CreditRating #InvestmentGrade #SEDP
5 December 2019