Oct 2014 Financial News

CariCRIS reaffirms ‘adequate creditworthiness’ ratings for Dominica

Oct 02, 2014

Regional credit rating agency Caribbean Information and Credit Rating Services Ltd (CariCRIS) has reaffirmed the ratings of CariBBB- (foreign currency rating) and CariBBB—(local currency rating) on its regional rating scale to the notional debt issue of the size of US$25 million of the government of the Commonwealth of Dominica (GOCD). 

These ratings indicate that the level of creditworthiness of this obligation, adjudged in relation to other obligations in the Caribbean is adequate. 

The ratings of the GOCD continue to reflect Dominica’s prudent fiscal management evidenced by a modest current account balance and comfortable debt servicing ratios, as well as monetary and exchange rate stability. The country’s stable political environment and moderate though declining external sector performance also support the ratings.

These rating strengths are tempered by the small, open economy with a narrow economic base, which renders it highly vulnerable to external shocks, and severe

Source:
Trinidad Guardian
Thursday October 2, 2014

http://www.guardian.co.tt/business/2014-10-02/caricris-reaffirms-%E2%80%98adequate-creditworthiness%E2%80%99-ratings-dominica