Scottish Government Bonds: credit rating agency meeting presentation
As part of the credit rating process the Scottish Government conducted meetings with credit rating agencies to provide them with detailed information about the Scottish Government.
On 12 November 2025, The Scottish Government was assigned its first Credit Ratings - Scottish Government credit rating matches UK - gov.scot.
As part of the credit rating process the Scottish Government conducted meetings with credit rating agencies to provide them with detailed information about the Scottish Government.
This presentation (in September 2025) aimed to give the agencies a clear and comprehensive understanding of the Scottish Government’s financial position, economic context, institutional arrangements, and long‑term fiscal strategy.
The presentation is a timestamped document representative of the Scottish Government’s financial position and Scottish economic data at the time.
The full presentation is available to view in PDF format. If you require the presentation in a different format, please get in touch using the contact details below.
For further information on the Scottish Government bond programme see - Scottish Government bonds - Investment finance - gov.scot
Presentation content summary
Executive Summary
This section outlines why the Scottish Government is seeking a credit rating. It highlights the Government’s strong financial stewardship, stable funding environment, and institutional and economic strengths.
Introduction
Provides an overview of the Scottish Government and Scotland as a nation, summarising the history of devolution and the responsibilities held by the Scottish Parliament and Government.
Institutional Framework and Governance
Describes how Scotland’s political institutions, public bodies, and governance systems operate. It emphasises accountability, transparency, and well‑defined financial frameworks that support sound public management.
Scotland’s Economy and Economic Strategy
Gives a high‑level picture of Scotland’s broad and diverse economy and policy. It outlines the Government’s strategic priorities for growth, wellbeing, and the transition to a sustainable, net‑zero future, and the long‑term plans for investment, innovation, and industrial development which support this.
Annual Budget and Process
Explains the Scottish Budget, and how the budget is scrutinised and monitored throughout the year. It highlights the disciplined approach taken to ensure spending remains aligned with available resources and the Government’s priorities.
Recent Financial Results
Summarises Scotland’s record of financial management, demonstrating consistent alignment of spending with budget limits. It describes the reliability of Scotland’s major funding sources and the Government’s prudent approach to borrowing.
Scottish Government Priorities and Objectives
Sets out the Government’s medium‑term plans, fiscal strategy, and reform agenda. It emphasises supporting economic growth and ensuring long‑term sustainability through investment, efficient spending and responsible financial planning.
Appendix
Contains supplementary detail on Scotland’s institutions, legal system, legislative processes, economic data, and broader policy frameworks that underpin the Government’s approach to financial and economic management
