The Scottish Government is “on track” to issue its first-ever bonds next financial year, with John Swinney saying the move will fund “key infrastructure” projects.

The First Minister confirmed bonds should be issued in 2026-27 – though this is subject to the outcome of May’s Holyrood election as well as other factors.

It comes after two global credit rating agencies awarded Scotland the same ranking as the UK. Moody’s rated the Scottish Government as Aa3 while S&P Global rated it as AA, both identical to the UK’s sovereign rating.

Speaking about the ratings, Holyrood’s finance secretary Shona Robison said: “This will very much persuade investors that Scotland is a safe bet.”

Swinney meanwhile said the “high credit ratings” for the Scottish Government came as a result of its “track reco

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