Moody's downgrades Bahamas

Moody's Investors Service said it downgraded the rating of the Government of the Bahamas to Baa1 from A3.

The outlook remains negative.

Moody's said the key drivers of this action are: (a) Limited growth prospects following a protracted recession and weak recovery in tourism and construction; (b) significant and rapid deterioration of the government's balance sheet, exacerbated by a low revenue base; and (c) high and rising levels of debt and a weakening of debt sustainability metrics relative to peers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.