Nation e-Edition

Top ratings go to Goddard

Top ratings go to Goddard

By Geralyn Edward, Business Editor | Fri, October 19, 2012 - 12:10 AM

The Caribbean's lone credit rating agency has given Barbados’ largest locally owned conglomerate top marks for the way it has handled its business during a very tough economic period.

Caribbean Information & Credit Rating Services Limited (CariCRIS) – the region’s only business and sovereign rating agency – has assigned Goddard Enterprises Limited (GEL) a CariAA- (foreign currency rating); CariAA (local currency rating), and bbAA on the Barbados national scale.

The Trinidadian-based CariCRIS said the Goddard rating represented a “high” standing when it came to the company’s credit worthiness on its debt compared with other Caribbean companies.

CariCRIS, in a recently-released report, said after one-time write-offs of $37.9 million in the 2011 financial year, which caused the company to record a $10 million loss, Goddard was now back on a growth path.

Please read the full story in today’s WEEKEND NATION, or in the eNATION edition.

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