Rating agency Moody's Investors Service has re-affirmed the Cayman Islands' credit raring at Aa3 with a stable outlook, citing a relatively low debt burden and high income levels.
The rating was justified because of Cayman’s high per-capita income (of $53,253 per head) despite the recent deterioration of the fiscal accounts and debt to GDP having risen from 8% in 2007 to 24.9% today (still a very low debt burden compared to many other economies).
The ratings agency, suggested there was limited potential for upward ratings movement, because of the islands’ narrow economy and its susceptibility to weather-related shocks
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