On safe track
Central Bank Governor Dr DeLisle Worrell believes the rating agencies were reassured by the message. (Lennox Devonish)
Sat, April 28, 2012 - 12:09 AM
Barbados may have avoided a dreaded downgrade from the powerful international rating agencies.
And Governor of the Central Bank Dr DeLisle Worrell is certain the island convinced Standard & Poor’s (S&P) and Moody’s during a state-initiated road show last month it was closing the worrying debt-to-GDP ratio, bringing down public debt and achieving growth, though it was minimal.
With a triple-B investment grade rating from both Moody’s and S&P, any further downgrade would put Barbados in junk bond status and erode the chances of raising capital on the international market at reasonable rates.
A downgrade would also have implications for the ratings of major public companies which might seek international financing.
Read the full story in today's SATURDAY SUN.
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