The Treasury Minister says a downgrading of the Isle of Man's government bond ratings from AAA to AA+ is disappointing but not unexpected.
Moody's Investors Services confirmed the move on Friday.
A downgrade had been widely anticipated since Moody's reviewed the Island's rating in the summer.
Two years ago, agency Standard and Poors downgraded the Isle of Man’s status from triple A to double A plus.
Eddie Teare says whilst it's not something he would have wanted, the Island has to be realistic.
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