Caribbean

S&P Lowers Curacao Outlook

Caribbean Corporate & Sovereign Strategy

Standard & Poor’s has changed its outlook on Curacao’s A minus rating to negative from stable, it says. The ratings agency cites continued fiscal deterioration. It single...

Southern Cross Adds Marine Transportation Stake

Chile Caribbean M&A

Private equity firm Southern Cross has agreed to invest $220m in Bahamas-based marine industrial transportation company Ultrapetrol, says Chile’s Sipsa, Ultrapetrol’s par...

S&P Raises Grenada on Payment

Caribbean Corporate & Sovereign Strategy

S&P has raised Grenada's credit rating to CCC+ from selective default (SD), it says, following a belated coupon payment on its $193m 2025 bond. "Grenada's fiscal and exte...

S&P Lowers Grenada into Default

Caribbean Corporate & Sovereign Strategy

S&P has lowered Grenada’s rating to selective default (SD) from B minus, it says, following a missed coupon payment. The government failed to make a September 15 installm...

Aruba Returns with Size

Caribbean Bonds

The government of Aruba has completed a $253m 2023 bond sale, in its first visit to the DCM in four years. The island sovereign saw about $1.9bn in orders for the deal of...

Aruba Sets Target

Caribbean Bonds

Aruba has emerged with 4.875%-area yield guidance for a $253m 2023 bond, and is expected to price as soon as today, according to sources following the transaction. The le...

Investor Report Caribbean: The gathering storm

Caribbean Economy & Policy Corporate & Sovereign Strategy

The Caribbean appears increasingly fragile as governments struggle to balance economies amid a pullback in traditional sources of foreign investment

Aruba Preps Fixed-Income Meetings

Caribbean Bonds

The government of Aruba will meet fixed-income investors next week in Europe and the US, in a possibly prelude to a $253m, 11-year senior unsecured bond issue. Meetings ...

Moody’s Lifts Suriname

Caribbean Corporate & Sovereign Strategy

Moody’s has raised Suriname’s credit rating to Ba3 from B1. The move is based on an assessment of the country’s robust growth, driven by gold mining, petroleum and constr...

Bermuda Breaks out Benchmark

Caribbean Bonds

Bermuda has raised $475m in new 2023 bonds, completing its second-ever visit to the international DCM. Despite a Fitch downgrade earlier Tuesday morning, the deal drew de...

Bermuda Whispers

Caribbean Bonds

Bermuda is whispering in the low to mid UST+ 200bp range for the yield on a new benchmark-size long 10-year bond, according to sources following the transaction. The isl...

Bermuda to Meet Investors

Caribbean Bonds

Bermuda is planning investor meetings next week. The island nation will visit fixed-income accounts starting in London Monday and visit Los Angeles and Boston before fini...

Caribbean Development Bank Cut

Bonds Structured Finance Caribbean

S&P has lowered the credit rating of the Caribbean Development Bank's to AA+ from AAA, as its risk management has weakened. “CDB has failed to comply with one of its inte...

Telecom Places Private Bond Facility

Caribbean Barbados Bonds

Columbus International has sold $82m in new 2017 bonds, under a senior notes facility that allows it to borrow up to $143m more on the same terms. The 9.5% bonds were pla...

Trinidad Eyes Bond Return

Caribbean Trinidad & Tobago Bonds

Trinidad and Tobago is looking to place its first international bond since 2007, ideally before August. "There has been a need for the past three years. I’m sure we’ll go...