The Premier and Minister of Finance has lauded a ratings agency’s affirmation of Bermuda’s economic stability.

David Burt said that Moody’s Investor Service’s confirmation of Bermuda A2 issuer and senior unsecured bond ratings demonstrated the island’s “upward trajectory”.

He added: “This review along with the Standard and Poor’s reaffirming Bermuda's A+ credit rating in May is another independent validation of this Government's careful and thoughtful fiscal approach and demonstrates our success in driving economic advancement and development for Bermuda.

“Overall, Moody’s review reflected positively on Bermuda and the fiscal management approach being taken to shape our country's direction and indicates that Bermuda’s bonds are of good quality with a low credit or default risk.

“This confirms that there has been no change in rating since the 2020 report.”

The Royal Gazetteshared Moody’s analysis of Bermuda’s economic rating earlier today.

The rating agency determined that despite the tourism sector suffering a massive blow during the Covid-19 pandemic, Bermuda’s domestic product growth has had a strong recovery thanks to public investment and renewable energy projects.