Moody’s executive speaks on downgrade
Barbados’ once stellar credit rating that was pegged several years ago at “A- minus” has been downgraded again by Moody’s Investors Service.
It blamed Barbados’ “lacklustre economic performance” and the escalation of its already high debt for the action it took.
The credit rating fell to Ba1, taking it into junk bond territory, and Moody’s, a giant Wall Street credit rating firm, placed a negative outlook on the rating because it indicated the country’s economic prospects were weak. In effect, the rating can fall even more. In this week’s Big Interview, Aaron Freedman, a Moody’s vice-president and senior economic analyst, spoke to THE NATION’s North American Correspondent Tony Best about the firm’s decisions and its implications for Barbados.
Full interview in tomorrow’s Big Interview in the SUNDAY SUN