The Isle of Man’s bond rating has been downgraded.
Moody’s Investors Services dropped it from AAA (TRIPLE A) to AA1 (DOUBLE A PLUS) on Friday.
Treasury Minister Eddie Teare says it’s not unexpected and comes as no surprise given the changing global economic environment.
He says - in effect - the new rating is the highest available to small jurisdictions such as the Island and the outlook for the new rating is stable.
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