AT LEAST one commercial bank in Barbados doesn’t understand where Moody’s is coming from.
CIBC FirstCaribbean International Bank (FCIB), in a strategy flash report disseminated recently to possible customers, has called the international rating agency’s recent downgrade of Barbados’ economy “unwarranted and confusing”.
In fact, the bank believed Barbados should be carrying a better international rating, BB, to be specific.
The report, released through FCIB’s Capital Markets Macro Strategy Research department, was done in conjunction with its parent company in Canada, in direct response to Moody’s reducing the Barbados Government’s bond rating from B3 to Caa1, and changing its outlook from negative to stable.
Please read the full story in today’s Sunday Sun, or in the eNATION edition.
