Sep 2015 Financial News

S&P keeps B/B rating (Barbados)

Sep 17, 2015

AFTER SUCCESSIVE downgrades, international rating agency Standard & Poor’s (S&P) has kept its ‘B/B’ rating of Barbados as well as the negative outlook.

It is the second straight year S&P has left the rating unchanged after crushing Barbados’ investment grade rating into junk status in 2012.

This time, the agency made it clear that despite projections of one per cent growth this year and two per cent next year, S&P said fiscal deficits remained high and the “debt burden continues to rise, with limited financing options”.

The United States-based agency said a negative outlook reflected the potential for another downgrade, if “tourism investment projects fail to support a turnaround in growth, or if external pressures mount”.

Source:
GERALYN EDWARD
geralynedward@nationnews.com
Nation News
Thursday September 17, 2015

http://www.nationnews.com/nationnews/news/72316/-b-b-rating