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Cayman Islands financial sector welcomes ratings affirmation
Published on February 16, 2013 Email To Friend    Print Version

GEORGE TOWN, Cayman Islands -- Cayman Finance CEO, Gonzalo Jalles, has welcomed recent news that Moody’s credit ratings agency has affirmed its Aa3 sovereign rating for the Cayman Islands, viewing the outlook on the country as 'stable'.

“At a time when the global economic recovery remains uncertain and most countries around the world face serious challenges, it is pleasing to note that Moody’s recognizes the strength of the Cayman economy and the long term prospects for the Cayman Islands remain very strong in the eyes of economic experts", said Jalles.

He explained the decision to maintain Cayman’s current high ratings shows the long term strength of the Cayman Islands economy.

"This bodes well for our jurisdiction because it shows the resilience of our financial services and tourism industry", said Jalles.

He explained that in the eyes of clients and investors, the country's very high sovereign rating is important to maintain and a decision factor when choosing a jurisdiction to do business with. “The strength of our economy is something we should be proud of especially when comparing to some of our competitors.”

Cayman Finance is a private sector organisation established to promote the interests of the Cayman Islands' financial services industry.
 
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