S&P downgrades Barbados

S&P downgrades Barbados

Barbados Corporate & Sovereign Strategy

S&P Global Ratings has downgraded Barbados to CCC from CCC+ with a negative outlook, due to high levels of government debt, the rating agency said in a report.As of June 2017, gross central government debt was around 140% of GDP, one of the highest in the Caribbean and across Latin America, the rating agency said. S&P also said the sovereign was risking the sustainability of a peg to the dollar due to its low international reserves, which presently stand at $317m.A potential liabili

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial