Scotland Introduces 'Kilt' Bonds in Effort to Attract Investors

Written by Emily J. Thompson, Senior Investment Analyst

Source: CNBC

Updated: Nov 13 2025

0mins

Source: CNBC

Scottish Sovereign Bonds Announcement: The Scottish government plans to issue its first sovereign bonds in 2026/27 as part of a £1.5 billion bond program aimed at funding infrastructure investments, contingent on the outcome of upcoming elections.
Credit Ratings and Economic Outlook: S&P Global and Moody's have awarded Scotland credit ratings equivalent to the U.K., reflecting strong fiscal management and a pro-business environment, which could enhance Scotland's investment profile.
Independence and Financial Stability Concerns: The credit ratings are tied to Scotland's status as a devolved nation within the U.K., with potential downgrades if Scotland pursues independence or faces budgetary challenges.
Economic Context: Amidst a cost of living crisis and slow economic growth in the U.K., Scotland's government argues for independence to improve living standards, citing negative impacts from Westminster's policies.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.