Following on from the DBRS credit rating agency assessment, Moody’s has upgraded Madeira’s credit rating from stable to positive.
Acknowledging that the DBRS had already upgraded Madeira’s financial competence earlier this year in April, the Vice-President of the Regional Government, Pedro Calado, said that this favourable signal from two of the four largest international credit rating agencies also means that the islands financial evaluation will hopefully improve in future assessments. He went on to say that ‘Notwithstanding the maintenance of the rating at Ba3, still at ‘speculative investment level,’ this rating gives an affirmative signal for a further upward revision as early as October 2019.’
Moody’s has also amended the islands Baseline Credit Assessment (BCA), credit risk profile from caa1 to caa2.
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