Bahamas Suffers S&P Chop (2)

Bahamas Suffers S&P Chop (2)

Caribbean

S&P has downgraded The Bahamas to BBB+ (stable) from A minus to reflect a weakened fiscal profile. "Its debt and deficits have increased, and the composition of its debt has weakened somewhat,” says S&P analyst Lisa Schineller. “In addition, following three years of economic contraction, The Bahamas' growth prospects beginning in 2011 are modest," she adds. Higher debt levels reflect the government's financing its rising fiscal deficits, a result of countercyclical fiscal spending agains

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