Aug 2018 Financial News

Barbados Local Currency Rating Lowered To 'SD' From 'CC'; Global Bonds Due 2019 And 2022 Downgraded To 'D' From 'CC'

Aug 08, 2018

On August 7, 2018, S&P Global Ratings lowered its issue level ratings on Barbados' global bonds due 2019 and 2022 to 'D' (default) from 'CC'. At the same time, S&P Global Ratings lowered its long- and short-term local currency sovereign issuer credit ratings to 'SD' from 'CC' and 'C', respectively. S&P Global Ratings also affirmed its 'SD/SD' (selective default) long- and short-term foreign currency sovereign credit ratings on the country, and its 'D' (default) ratings on the country's 6.625% notes due 2035 and 7.25% notes due 2021. As well, S&P Global Ratings affirmed its 'CC' local currency issue-level ratings on debt for which Barbados remains current. Finally, S&P Global Ratings affirmed its 'CC' transfer and convertibility assessment on the country.


Source:
Standard & Poor's Credit Researc
Tuesday August 07, 2018