Scotland Gets Its First Credit Ratings to Pave Way for Bond Sale

Scotland was assigned its first credit ratings, a critical step on the country’s road to a debut bond sale as it seeks to attract investors during a torrid time for the UK’s finances.

S&P Global Ratings gave the nation an AA rating with a stable outlook because of its devolved arrangements with the British government, strong economy and financial prudence. Moody’s also cited the requirement to maintain a balanced budget and predictable funding from London when assigning its Aa3 rating. Both investment grades are the same as that of the UK.