Tuesday, March 20, 2012

Singapore retains triple-A rating from Moody's

SINGAPORE: Singapore has retained its triple-A rating from Moody's.

According to a statement from the credit agency, Singapore's Aaa rating is supported by a high level of economic resiliency that is derived from rapid economic growth, rising per-capita income, and strong institutions.

Moody's said that while Singapore lacks the size and the natural resources of most other nation states, its openness to global trade, finance, and immigration, together with an emphasis on human capital development, has driven its economic success.

"These gains are also supported by the accumulation and prudent management of large fiscal and foreign currency reserves held at its sovereign wealth funds and its central bank," it added.

- CNA/cc

View the original article here

Source From Channel News Asia

No comments:

Post a Comment