Sealy: S&P’s not always right

Minister of Tourism Richard Sealy has questioned the downgrade of Barbados’ credit rating by international credit rating agency Standard &?Poor’s (S&P).
Speaking on the Starcom Network’s Brass Tacks progamme yesterday afternoon on the political and economic implications of the Standard &?Poor’s downgrade to junk status, Sealy said the country was being well managed and urged Barbadians not to be unduly worried.
“These agencies provide a service to the investors. They are of course looking at sovereign debt within the context of the capital markets and their clients are interested in the returns on investment.
“We are looking for foreign direct investment and we understand what the investment community thinks is important,” he said. (MK)