Moody's could cut Bermuda

Moody's Investors Service said it placed Bermuda's Aa2 government bond rating on review for possible downgrade.

Moody's said the review was prompted by the steep rise in government debt since the global financial crisis and by the prospect of further rises in the coming two years.

In addition, the island's economy remains in recession, making efforts to correct the fiscal deterioration more difficult, the agency said.

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