Premier Su Tseng-chang says that investors’ service firm Moody’s decision to upgrade Taiwan’s credit rating shows the firm’s recognition of the government’s good governance. Su was speaking Thursday during a Cabinet meeting.
On Wednesday, Moody’s changed Taiwan’s outlook from stable to positive. It said the upgrade reflects “increasing signs that Taiwan's economy is more resilient and that its governance strength is stronger than previously assessed.”
Moody’s also said “Taiwan has a lengthening track record of sound policy effectiveness that supports its credit profile, through shocks such as trade tensions or the pandemic.”
This is the first time that Moody’s has upgraded Taiwan’s credit rating since 1994.