The Caribbean Information and Credit Rating Services has upgraded the Government of Anguilla’s credit rating to CariA- on the regional scale.
This is the first rating boost for the island in 11 years, having held the CariBBB+ rating since 2013.
The CariA- rating is classified as ‘good’, and those with this rating are considered to have low credit risk with respect to the timely service of debt obligations.
It is the third highest rating on the CariCRIS rating scale.
The upgrade acknowledges Anguilla’s continued progress in managing its debt while enhancing economic resilience through key sectors such as tourism, construction, and manufacturing.
It also signifies the island’s improving creditworthiness compared to others in the Caribbean, a press release from the Ministry of Finance on 5 November explained.
The island has also maintained a ‘stable’ outlook, with CariCRIS citing strong fiscal recovery post-COVID-19 and significant progress in rebuilding the economy and infrastructure.
Premier Ellis Webster, who serves as Minister of Finance, said: “This credit rating upgrade is a testament to the Government of Anguilla’s commitment to sound fiscal management and economic recovery.
“Our ongoing efforts to strengthen key sectors, have helped position Anguilla on a path to greater resilience and growth.”
He said the government is encouraged by the positive development in Anguilla’s credit rating, which underscores the progress made in improving fiscal and debt management.
“This achievement not only reflects our commitment to fiscal discipline but also enhances our credibility in attracting investment to drive economic development,” he said.
“We will continue to pursue responsible fiscal policies that support our island’s long-term prosperity.”
Key drivers of the upgrade include improved fiscal performance and debt servicing capacity, strong economic recovery post-pandemic, particularly in tourism, and support from the UK government.
To read the full report, click here.
