A Hong Kong rating agency, Fitch, has rated Maldives B+ for the third year in a row after an examination conducted in April 2019. The announcement was made in a press release by Fitch.
This rating helps investors in assessing the stability of the country’s bonds. It also shows the possibility of whether or not the government is able to pay back its debt in the future.
“The Maldives’ strong GDP growth outlook is underpinned by a continued rise in the number of tourists, the construction of new resorts, and investment in some large public-sector infrastructure and housing projects,”Fitch commented.
They also said that they expect Maldives’ GDP growth to remain relatively high at 6.5% in 2019 and to rise to 6% in 2020. The agency commented the high reliability on tourism for Maldives’ economy and explained that it makes it vulnerable to shocks that could undermine prospects to the industry.
