- Enhanced shopping experience with Courts card Read More
- Call for probe into Amazon purchase of Whole Foods Read More
- Worrell places fourth at Junior Pan Ams Read More
- Garner signs off Read More
- Bajans must hold place on WI team Read More
- Put aside egos, let all ideas contend Read More
- A soca party on de Hill Read More
Another international agency has relegated Barbados’ credit rating to “junk” status but while Government says it was not surprised by the move, the Opposition contends that it was another sign the economy was not stable. Moody’s Investors Service announced late Thursday night that it had lowered the island’s foreign and local currency bond ratings to Ba1 from Baa3, while maintaining that the economic outlook was “negative”. But in a swift response, Minister of Finance Chris Sinckler said: “The most recent ratings downgrade by Moody’s Investors Service comes as no surprise to us in the Ministry of Finance or in the Government, as a whole.” Sinckler said in a statement that it was generally expected that since Standard & Poor’s had made their adjustment to the country’s credit rating some months ago, it was altogether likely that Moody’s would align their rating accordingly.