Top ratings go to Goddard

Geralyn Edward, Business Editor,

Added 19 October 2012


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.


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