Thursday, April 25, 2024

Credit rating down again


Share post:

THE CARIBBEAN’S LONE credit rating agency has downgraded Barbados, saying that the island’s economic performance for most of this year was disappointing and the prospects for growth in the country are not apparent.
Caribbean Information and Credit Rating Services Limited (CariCRIS), which is based in Trinidad and Tobago, said yesterday that it dropped by two notches the island’s rating on the Government debt issue
of $600 million to CariA- from CariA+ and a CariA on the local currency down from CariAA-.
CariCRIS’ downgrade follows on a series of downgrades that the island has received over the past two years from international rating agencies Standard & Poor’s and Moody’s.
The agency’s chief executive officer Wayne Dass said: “The downgrade of the Government of Barbados’ ratings is driven by the below expectations performance of economic growth, fiscal containment and the external position.”


Please enter your comment!
Please enter your name here

Related articles

Body found near Culpepper

There are reports reaching The Nation that a body was found in the area of Culpepper, St Philip. Initial...

Time to focus on national issues

ARE THE DEMS united, or are they fragmented? The reason I ask though is because shortly after Member of...

Dominica High Court overturns ban on same-sex relations

Dominica's High Court has overturned a ban on consensual same-sex relations in the Caribbean island nation. The court ruled...

Usain Bolt named ICC Men’s T20 World Cup 2024 Ambassador

ST JOHN’S, Antigua – The International Cricket Council (ICC) have announced Olympic legend Usain Bolt as an ambassador...