News

Grenada Government: Standard and Poor’s Ratings Action “Premature”

By: Caribbean Journal Staff - October 10, 2012

Above: St George’s (CJ Photo)

By the Caribbean Journal staff

Standard & Poor’s decision to lower Grenada’s foreign currency ratings this week following a missed bond payment was “premature,” the country’s government said in a statement.

Grenada said that the terms of agreement for its 2025 Notes provide a grace period of 30 days after the due date of the payment, one which it said had not yet expired.

The payments on a $193 million bond, which were due on the Regional Government Securities Market, will continue as normal, Grenada said.

“The government of Grenada fully understands the importance of the RGSM for Grenada and other member governments of the Eastern Caribbean Currency Union and is deeply committed to the RGSM,” it said.

Grenada said it had met all of its obligations on the RGSM from 2008 to 2010, and that its treasury bills on the RGSM had been unaffected by Hurricanes Ivan and Emily.

“The government of Grenada confirms to all investors that it will continue to meet its obligations as and when they fall due on the Regional Government Securities Market.”

Popular Posts riviera maya resort closing

Hyatt Is Closing This Riviera Maya Resort, With Plans for a Rebranding

Hyatt is closing one of its top luxury resorts in the Mexican Caribbean in a few months, with plans for a rebranding, Caribbean Journal has learned.  The Andaz Mayakoba Resort Riviera Maya, one of a trio of properties in the […]


Frontier Airlines Is Adding Another New Nonstop Flight to the Dominican Republic’s Most Popular Destination: Punta Cana

punta cana golf dominican republic

The beaches, the all-inclusives, the nightclubs, the beach bars. Punta Cana is the spot when it comes to Dominican Republic travel, and now it’s getting another nonstop route from one of the fastest-growing airlines in the Caribbean.  Low-cost carrier Frontier […]


Travelers Keep Flocking to This Caribbean Island Famous for Beaches, Diving and a Colorful, Historic Capital 

curacao all-inclusive vacation

The colorful streets of Willemstad. The pristine, uncrowded beaches on the west coast. The party scene at Mambo. The floating bridge. Those Dutch Treat fries. The blissfully refreshing batidos. The unique, authentic hotels, from luxury resorts to dive spots.  Curacao […]


Related Posts spice island beach with waves

This Top Caribbean Luxury All-Inclusive Resort Just Reopened 

One of the Caribbean’s most celebrated resorts has officially resumed full operations following Hurricane Beryl, Caribbean Journal has learned . The Spice Island Beach Resort is back open again, after Hurricane Beryl largely spared Grenada but devastated the nearby islands […]


Sandals Saint Vincent, Grenada Resorts “Remain Open” 

sandals st vincent

After being in the path of Hurricane Beryl, the Sandals St Vincent and Sandals Grenada resorts both “remain open,” Caribbean Journal has learned.  Guests at both all-inclusive resorts are “already enjoying many of the resort amenities as we work to […]


Hurricane Beryl Update: Storm Moves into Caribbean Sea 

hurricane beryl path

Hurricane Beryl has moved into the Caribbean Sea after impacting St Vincent and the Grenadines and parts of Grenada.  The now-160-mph storm is expected to remain a powerful hurricane as it moves across the water, although for the next few […]