Standard and Poor's affirms Malta's BBB+/A-2 rating

The credit agency Standard and Poor's has affirmed the long- and short-term sovereign credit ratings on Malta's rating at 'BBB+/A-2' - outlook stable. The government welcomed the decision and described it as a positive result for the country. "A result which should encourage us to address the challenges ahead while striving to sustain stability, incentivise investment and create more employment for the well-being of all." The decision was also welcomed by the Nationalist Party. Economy spokesman Mario de Marco said that this was the fruit of the wise decisions taken by Nationalist government along the years for the economy to continue to grow and create employment. In its commentary, S&P said the new government had a strong electoral mandate that favoured reforms. "However, we believe tight public finances and a high debt burden will constrain the government's flexibility, particularly as we forecast growth will remain below pre-crisis levels. "We are affirming our long- and short-term sovereign credit ratings on Malta at 'BBB+/A-2'. The stable outlook balances our view of improving prospects for economic reform against Malta's recurrent fiscal and external deficits. The transfer...