Maldivian credit rating listed by Moody’s

An independent credit rating has been done on Maldives for the first time, and the credit rating listed for the first time by Moody’s Investors Service.

The step was noted by Minister of Economic Development, Mohamed Saeed, who tweeted on Friday that the credit rating being listed by Moody’s was a benchmark for future progress.

Moody's Rating is a clear benchmark 4 future progress.Shows transparency of HEP Yameen's administration.We are gaining global acceptance.

— Mohamed Saeed (@em_saeed) September 2, 2016

He credited it to the “good governance” and “bold economic transformative approach” of President Abdulla Yameen Abdul Gayoom.

Merits reflected on Moody's country rating is a clear indication of good governance & bold economic transformative approach by HEP Yameen????????

— Mohamed Saeed (@em_saeed) September 2, 2016

He said that the move proved that the Maldivian economy was gaining global acceptance.

Moody’s has listed Maldives as a “B2” country, meaning that the economy is judged to be highly speculative and a high credit risk.

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The credit rating being listed, however, is expected to bring in more foreign investment as it will end the uncertainty over the exact status of Maldivian economy and provide a more accurate picture.