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.
New NHS safety rule to be brought in on Island
Two city streets to shut for over six months
Revamp of airport terminal planned, says DOI
Four ferries now listed as cancelled today
One weekend sailing cancelled, others at risk because of weather
Politician questions risk of Easter meningitis outbreak
Firefighters tackle flat fire down South
Weather warning for storm Dave this weekend