Good to see you again. Glad you enjoy the Limes.A not unexpected move from Standard & Poor’s, which has been deeply negative on Jamaica for some time now. Rival rating agency Fitch issued a similar downgrade, cutting the island’s local currency rating to ‘C’ from ‘CCC” on Thursday. It’s not all bad news though – [...]
Hot on the heels of the decision by Standard & Poor’s to slash Jamaica’s sovereign rating comes this announcement from the rating agency: S&P: National Commercial Bank Jamaica Counterparty Credit Rating Lowered To ‘CCC’; Survivability Assessment Lowered To ‘B’ * On Nov. 2, 2009, we lowered the long-term sovereign rating on Jamaica to ‘CCC’ from [...]
My day job has kept me so busy I haven’t yet had time to read beyond the headlines of the latest budget, but it seems that whatever Karen Nunez-Tesheira put together pleased Standard & Poor’s. Although the devil, as ever, is in the details. The rating agency issued the following statement on Monday (any emphasis [...]
This is bad. S&P had previously assigned a rating of B- to Jamaica. In financial parlance, a B- rating sovereign rating suggests that the country is perceived as “high risk” by would-be lenders; in a word, “junk”. By downgrading Jamaica to triple-C, S&P is saying the island is ” currently vulnerable and dependent on favorable [...]
More bad news for Caribbean economies – rating agency Standard & Poor’s on Wednesday downgraded the foreign currency rating of Barbados to BBB from BBB+. From the S&P statement, highlighting mine: Barbados Foreign Currency Credit Rating Lowered To ‘BBB’ From ‘BBB+’; Outlook Stable – The global economic crisis has pressured Barbados’ economic and fiscal performance [...]