The outlook for Jersey and Guernsey's long term credit rating has been changed from negative to stable.
A long term credit rating looks at how likely a country is to pay its debts. The rating is often listed as letters, ranging from AAA being excellent to D.
Every six months the rating is reviewed. Jersey and Guernsey have maintained their rating of AA but the outlook has been moved from negative to stable.
Standard and Poor's, the company that review the two islands credit rating, have said that Jersey ‘remains vulnerable to the fortunes of the UK’s financial sector’ but ‘immediate risks have been dissipated’.
Deputy Gavin St Pier has said that the revised credit rating for Guernsey reflects their own assessments.
The ratings were adjusted following the UK’s general election result. Standard and Poor's believe a majority UK government gives ‘more room to engage with the EU’.
