Scotland’s new plan to fund big infrastructure projects already has an affectionate name: “kilts.”

The country was Wednesday night given the same credit rating as the United Kingdom — paving the way for it to raise funds through the markets on more favorable terms.

It’s a bid by Scotland’s pro-independence devolved administration to boost the country’s economic firepower and get big projects off the ground. City of London wags swiftly dubbed the bonds “kilts,” a Scottish-flavored riff on Britain’s own government bonds, known as gilts.

“This is a very proud day for Scotland, because we’ve achieved the highest possible credit rating that we could do within the United Kingdom,” Scotland’s First Minister John Swinney said in an interview with POLITICO. “It’s a reflection of the strength of the Scottish economy, the strength of our financial management and the strength of our financial institutions.”

The Scottish government will issue its first bonds next year, with a £1.5 billion bond program planned over the life of the next parliament.

“The focus of that would be on key capital investment priorities around net zero and housing to make sure that Scotland is equipped for the long-term challenges that we face,” said Swinney.

Devolved powers given to Scotland in 2016 — two years after a failed referendum bid to take the country out of the U.K. — allow the issuance of government bonds for capital investment. But both credit agencies which gave Scotland its favorable grade stressed that their ratings could be cut if Scotland moved towards independence from the U.K., something Swinney’s government has long push for.

Swinney acknowledged “there will always be context which affects the credit ratings and ratings agencies will assess different dynamics and different factors,” but he said he took “confidence” from the strength of Scotland shown by the ratings.

“These are significant sources of assurance, but obviously we’ve got to ensure that we take forward responsible and focused investment programs that strengthen the Scottish economy to deal with any assessments that might change in the years,” he said.

Swinney also pointed to political instability in Westminster — where the top of the governing Labour Party is locked in a briefing war amid tumbling poll ratings — as a factor in how Scotland is seen.

“As somebody who’s spent a lifetime in politics, I can’t quite fathom who thought the briefing on Tuesday night from Number 10 was a good idea, because it’s just absolutely fueled uncertainty about the prime minister’s leadership,” Swinney — whose party battles Labour in Scotland — said.

“We’re operating within the United Kingdom, from which we’re not insulated. Of course we’re not insulated, but we have got fundamental strengths that come out of this analysis, on which I think we can build a really strong economic foundation for the future,” he added.