Bermuda Draws from Local Market

Caribbean Bonds

Bermuda has priced BMD50m ($50m) in senior 2023 bonds, marking its first domestic transaction in a move to pave the way for development of its local market. The bond pric...

Bank of the Year, Caribbean: Scotiabank

Bonds Structured Finance Caribbean

A strong regional reach and global perspective to operations makes Scotiabank stand out

Fitch Negative on Aruba

Caribbean Corporate & Sovereign Strategy

Fitch has revised the outlook on Aruba’s BBB rating to negative from stable, it says. The adjustment is based on continued growth underperformance, large fiscal imbalance...

HY Resort Trades Up

Caribbean Bonds

Playa Resorts Holding’s new $300m 2020 NC3 senior unsecured bond traded up following pricing, after the transaction generated $2.4bn demand. The Caa1/B rated startup hote...

Bermuda Goes for Size

Caribbean Bonds

Bermuda has priced $750m in new 2024 bonds, raising its largest-ever issue size and printing enough to cover its fiscal deficit over the next several years, after seeing ...

Bermuda to Visit Investors

Caribbean Bonds

Bermuda is planning a roadshow this week ahead of a possible cross-border bond sale, according to people following the process. Escorted by Barclays and JPMorgan, the Aa3...

Best Corporates: Reaching out

Corporate & Sovereign Strategy Brazil Caribbean

With a newly acquired majority stake in the Dominican Republic’s leading beer brand, AmBev is looking for further Caribbean expansion

Best Corporates: Fast forward

Corporate & Sovereign Strategy Caribbean Jamaica

Digicel took advantage of falling funding rates to refinance expensive debt at much cheaper levels

S&P Cuts Aruba, Positive on Curacao

Caribbean Corporate & Sovereign Strategy

S&P has cut Aruba to BBB+ from A minus, it says. "The downgrade reflects deteriorating fiscal and external balance sheets," S&P says. The agency points to rising debt and...

Bermuda Lowered by Fitch

Caribbean Corporate & Sovereign Strategy

Fitch Ratings has downgraded AA minus from AA, it says, based on deterioration in the economy and the government’s finances. The agency points to four years of economic c...

Ambev Sees Caribbean, CentAm M&A Opportunities

Brazil Central America Caribbean

Companhia de Bebidas das Americas (AmBev) sees potential for further acquisitions in Central America and the Caribbean, following a purchase of a stake in the Dominican R...

Moody’s Reviews Bermuda for Downgrade

Caribbean Corporate & Sovereign Strategy

Rising government debt and continued recession conditions for Bermuda’s economy have led Moody’s to place its Aa2 rating on review for downgrade, the agency says. “The re...

S&P Negative on Bermuda

Caribbean Bonds Corporate & Sovereign Strategy

S&P has revised the outlook on Bermuda’s AA minus credit rating to negative from stable, it says, due to higher risk in several key areas. “Bermuda is experiencing a prol...

Grenada Reaches out to Bondholders

Caribbean Bonds Corporate & Sovereign Strategy

Grenada plans to attempt to start restructuring discussions with creditors, including holders of its USD and ECD-denominated 2025 bonds, it says. On March 8, the governme...

Grenada Back in Default

Caribbean Bonds Corporate & Sovereign Strategy

S&P has returned Grenada’s credit rating to SD from CCC+, it says, sending it back to the level where it was before an October upgrade to CCC+. The move comes after Grena...