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Moody's endorses Malta's successful consolidation strategy

Moody's has confirmed that Malta has retained its A3 rating as of September 2012, and has praised the Maltese government for the efforts it has made at fiscal consolidation, specifically at bringing the local deficit below 3% of the GDP at the end of 2011.

Malta's country ceilings were also revised, with the long-term foreign currency bond ceiling changed to A1, the long-term foreign currency deposit ceiling changed to A3, the short-term foreign currency deposit changed to P-2, and the country risk ceiling changed to A1.

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