October 4, 2013 / 7:13 PM / 4 years ago

Moody's revises Malta's outlook to stable from negative

NEW YORK, Oct 4 (Reuters) - Moody’s Investors Service on Friday lifted Malta’s outlook to stable from negative, citing views that the country’s debt will stabilize next year as the economy gathers steam.

The rating agency also affirmed the country’s A3 government bond rating.

“The first key driver underpinning today’s rating action is Moody’s expectation that Malta’s government debt metrics will stabilize in 2014 given the country’s economic recovery and the newly elected government’s commitment to fiscal consolidation,” Moody’s said in a statement.

Moody’s also noted “limited contagion risk” from the euro zone and the resilience of the country’s banking system.

Standard & Poor’s rates the country BBB-plus with a stable outlook. Fitch rates Malta A with a stable outlook.

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