THE FORMER HEAD OF the Barbados Economics Society Ryan Straughn says the recent downgrade of Sagicor Life’s credit rating “shouldn’t be perceived as a bad reflection” on the company’s operations.
According to the outspoken economist, the lower grade was just part of the fallout from international rating agency Standard & Poor’s Ratings Services (S&P) downgrade of the credit rating of Barbados.
He said Sagicor “certainly have not defaulted on any of their liabilities and this was a message which the management needed to get out to strategic partners, including the policyholders, “to allay any fears they may have”.
According to Straughn, the downgrades would make it more difficult and more expensive for Barbadian companies to borrow money or float bonds on the international market. (TY)
