At least one senior investment manager thinks that last weekend’s downgrade of the United States’ credit rating will not make a difference in how regional investors view that economy.
This is the view of Desmond Kinch, investment manager with Overseas Asset Management in the Cayman Islands.
Kinch told the DAILY NATION he saw Standard & Poor’s (S&P) Friday’s downgrade of the American long-term credit rating from AAA to AA+, with a negative outlook, as mere “theatrics”.
The downgrade came after US lawmakers raised the debt ceiling by $2.4 trillion. In May the United States hit its $14.3 trillion congressionally-mandated borrowing limit.
Read the full story in today’s DAILY NATION.
