...- We expect Bermuda's real GDP to continue rising in 2019, although ongoing consolidation in the important International Financial Services (IFS) sector could weigh on growth. - Fiscal results, which have been improving for the past five years, should be near-balanced in 2019, setting the stage for further improvements in the territory's net general government debt burden. - Accordingly, we are affirming our 'A+' long-term sovereign credit and senior unsecured debt ratings, our 'A-1' short-term rating, and our '##+' transfer and convertibility assessment on Bermuda. - The positive outlook reflects at least a one-in-three chance that we could upgrade the rating by one notch in the next 12 months if we believe that Bermuda's recent improvements in economic growth and fiscal consolidation will become more entrenched, which would help place the government more firmly in a net creditor position over the coming years....
