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Barbados Central Bank Challenges Standard and Poor’s Downgrade
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Moody's Downgrades Barbados Rating, Outlook Remains Negative

Above: Bridgetown (CJ Photo) By the Caribbean Journal staff New York-based ratings firm Moody’s Investors Service has downgraded Barbados’ government bond rating to B3 from Ba3. The three-notch downgrade reflected several factors, Moody’s said, including the increasing size of the country’s fiscal deficit, increasing government debt ratios and an expected decline in international reserves this […]

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Puerto Rico Rating Downgraded to Junk Status By Standard and Poor's

Above: San Juan (CJ Photo) By the Caribbean Journal staff Standard & Poor’s has lowered its rating on the government of Puerto Rico’s general obligation debt to junk status, the New York-based ratings firm announced Tuesday. The firm lowered Puerto Rico’s debt to “BB+” from “BBB-“, also downgrading Puerto Rico’s appropriation secured debt and employee […]

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S&P Downgrades Grenada Credit Rating

Above: Grenada (CJ Photo) By the Caribbean Journal staff Standard & Poor’s has lowered its foreign and local currency sovereign credit ratings on Grenada to “SD” from “CCC+/C,” citing the announcement that the country would not pay its coupon due March 15. That coupon is due on the country’s US dollar and Eastern Caribbean dollar-denominated […]

Puerto Rico Rating Downgraded to Junk Status By Standard and Poor's

 Above: Parliament in Bridgetown (CJ Photo) By the Caribbean Journal staff Moody’s Investors Service’s recent downgrade of Barbados’ debt to junk status was “no surprise” to the country’s Ministry of Finance, Minister Chris Sinckler said in a statement. Sinckler said the action was generally expected, in light of ratings firm Standard & Poor’s decision to […]

Moody's Downgrades Bahamas Credit Rating; Outlook Remains Negative

 Above: Nassau (CJ Photo) By the Caribbean Journal staff Moody’s Investors Service has downgraded the rating of the Bahamas’ government to “Baa1” from A3, the New York-based ratings firm announced Friday. The government’s outlook remains negative. Moody’s cited three major factors for the downgrade: limited growth prospects following a protracted recession and weak recovery in […]

Barbados' Bonds Downgraded to "Junk" Status by Moody's

 Above: Bridgetown (CJ Photo) By the Caribbean Journal staff Barbados’ credit has been downgraded to “junk” status by Moody’s Investors Service. The downgrade lowered the country’s foreign and local currency bond ratings to Ba1 from Baa3. A junk bond, or one that is “below investment grade” due to a heightened risk of default, is any bond […]

S&P: Lack of IMF Agreement "Detracting" from Jamaica's Creditworthiness

 Above: Kingston By the Caribbean Journal staff Standard & Poor’s this week raised the short-term sovereign credit rating on Jamaica to “B” from “C.” The ratings firm also affirmed its “B-” long-term foreign and local currency ratings, along with holding the country’s outlook at “negative.” S&P said the increase in short-term rating was a result […]

Standard & Poor's Lowers Barbados Outlook, Warns of Rising Downgrade Risk

 Above: Parliament in Barbados By Alexander Britell Ratings firm Standard & Poor’s affirmed its BBB-/A-3 local and foreign currency sovereign credit ratings on Barbados this week, but lowered its outlook from stable to negative. “We base our ratings on Barbados on the country’s stable, predictable and mature political system, which benefits from consensus on major […]