Standard & Poor’s yesterday delivered the type of Christmas present Barbados least wants.
The international rating agency lowered its long-term sovereign credit ratings on Barbados to ‘B’ from ‘BB-’.
This downgrade does not, however, mean that Barbados cannot meet its financial commitments but will make Government bonds less appealing, particularly to institutional investors.
Furthermore, the agency has indicated that the outlook is negative – effectively a notice that a further downgrade could be on the cards if things don’t improve. (ES)
Please read the full story in today’s Saturday Sun, or in the eNATION edition.
