Standard Poor's Ratings Services has announced the Island is to keep its triple-A sovereign credit rating.

According to S&P, the economic outlook is stable, despite worries about falling revenues and rising healthcare and benefits costs.

There’s a mention for the collapsed bank Kaupthing Singer and Friedlander, with the comment that the government could face liabilities to fund a depositor compensation scheme.

But there is also praise for the government, with S&P saying its continued triple-A rating reflects prudent and flexible fiscal and economic policies.

The service concludes the Island's overall robust financial position and policy flexibility should enable it to weather ongoing challenges in the global economy.