Moody's drops Bahamas deeper into junk status

Moody's drops Bahamas deeper into junk status

Credit Ratings Moody's Investors Service Downgrade Economy & Policy Bonds Debt Fixed Income Capital Markets Tourism Coronavirus Bahamas Caribbean

Moody's downgraded the Bahamas to Ba3 to Ba2 and kept is negative outlook, leaving the island nation's long-term credit ratings moored deeper in junk territory on a loss of "fiscal strength" during the COVID-19 pandemic. "Moody's expects the gradual recovery in tourism to leave a long-lasting impact on the Bahamas's credit profile through materially higher debt and interest burdens, which will significantly exceed those of Ba3-rated peers," the rating agency said in a report on Friday, explainin

Already have an account?

Free trial

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

Free Trial