The Isle of Man isn't the only Crown dependency to have its sovereign credit rating lowered by the international agency Standard and Poor's.
Guernsey has also been downgraded from AAA to AA+, but Jersey doesn't feature in the latest international report, because it has never sought such a rating.
The Isle of Man first approached Standard and Poor's and the other main rating agency, Moody's, when it was seeking to raise ?185 million for a bond for the Manx Electricty Authority.
In accordance with normal practice, the rating has been regularly reviewed ever since.
Treasury Minister Eddie Teare says the Isle of Man will never get the Standard and Poor's AAA rating back because, under a new requirement, such countries have to control their own currency and exchange rates.
However, he does note the Island is still rated AAA with Moody's (first part of audio file):
Mr Teare says there is no suggestion the Isle of Man has been victimised (second part of audio file):
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