S&P Global Ratings has maintained Taiwan’s long-term sovereign credit rating at AA+ with a stable outlook despite uncertainties in energy supplies and global trade. That’s the word from a press release by Taiwan’s Central Bank on Wednesday, April 29.

S&P says that Taiwan maintains its rating despite headwinds coming from possible disruptions in global energy markets and trade, due to robust foreign asset holdings, a sound fiscal position and a flexible monetary policy. It adds that geopolitical tensions are unlikely to hinder the growth of Taiwan’s highly competitive manufacturing sector, while government fuel subsidies and measures to control electricity prices help keep inflation low.