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Financial News

Oct 2022 Financial News

Moody's downgrades The Bahamas' ratings to B1, changes outlook to stable

Oct 07, 2022

Moody's Investors Service ("Moody's") downgraded the Government of The Bahamas' long-term issuer and senior unsecured ratings to B1 from Ba3. The outlook has been changed to stable from negative.

The downgrade to B1 is driven by a higher degree of government liquidity risk. Despite an ongoing economic recovery, driven primarily by tourism activity, and a narrowing fiscal deficit, The Bahamas faces constrained funding options given elevated external borrowing costs. Tighter funding conditions over a prolonged period could undermine the sovereign's ability to meet external repayments, including on its international bonds.


Moody's downgrades The Bahamas' ratings to B1, changes outlook to stable