Moody's upgrades Barbados

Moody's Investors Service said it upgraded the government of Barbados' issuer ratings to B3 from Caa1 and maintained the stable outlook.

“Prior to the pandemic, Barbados made significant progress towards addressing the root causes that led to the sovereign default in 2018. However, the severe pandemic-related economic contraction slowed down further reductions in debt burden. Over the past two years, as economic activity recovered and fiscal consolidation efforts resumed, the debt burden fell last year and returned to its downward trajectory.

“In Moody's assessment, the improvement in growth dynamics and fiscal performance, as well as the reduction in the debt burden, will be sustained over the coming years,” the agency said in a press release.

© 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.