Creditreform Rating AG gives A+ rating to Malta, outlook stable
Creditreform Rating AG has given Malta an A+ rating with a stable outlook, the government said in a statement. This is the first time that the German agency gave a rating to Malta’s economy.
Among the factors mentioned in its report, the agency said that Malta has great economic potential, has improved its public finances and has a solid institutional base.
Malta’s potential growth is among the highest of all euro area members, and the dynamic growth on the back of a buoyant labour market is supportive to income convergence towards the EU-28 average.
The German agency said that Malta has a high level of credit worthiness because of its strong macroeconomic performance and strong fiscal sustainability.
It predicted that Malta will lower its debt to below 60% of GDP.
Malta exhibits a generally strong institutional framework, and as regards the quality of regulation and the perceived level of corruption, the country is in line with its euro area peers, the agency said.