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Tag Archives: ratings

S&P’s move on Jamaica suggests there’s pain ahead

06-Aug-09

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 [...]

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S&P downgrades Barbados

10-Jun-09

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 [...]

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Moody’s reviews First Citizens’ ratings

02-Jun-09

Moody’s, the ratings agency, is reviewing the credit ratings of First Citizens Bank Limited for a possible downgrade. The agency has been conducting a broad review of global banks, so this is not entirely surprising. Here are the comments from Moody’s, any highlighting is my own: New York, June 02, 2009 — Moody’s Investors Service [...]

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