Friday, April 12, 2024

Barbados local currency rating lowered

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Barbados has received yet another downgrade from Standard and Poor’s.

Yesterday, S&P Global Ratings lowered its issue-level ratings on Barbados’ global bonds due 2019 and 2022 to D (default) from CC.

At the same time, S&P Global Ratings lowered its long- and short-term local currency sovereign issuer credit ratings to SD from CC and C, respectively.

S&P Global Ratings also affirmed its SD/SD (selective default) long- and short-term foreign currency sovereign credit ratings on the country, and its D (default) ratings on the country’s 6.625 per cent notes due 2035 and 7.25 per cent notes due 2021.

As well, S&P Global Ratings affirmed its CC local currency issue-level ratings on debt for which Barbados remains current.

Finally, S&P Global Ratings affirmed its CC transfer and convertibility assessment on the country. (PR)

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