Moody’s lowers Bermuda to A2

Moody's Investors Service said it downgraded Bermuda's issuer and senior unsecured ratings to A2 from A1.

The outlook remains stable.

Moody’s said the key drivers of the downgrade are the following: (a) Despite improved economic prospects, Bermuda's economic strength continues to lag that of A1-rated sovereigns; and (b) Bermuda's fiscal strength continues to trail many A1-rated peers due to its high interest burden even as its debt metrics have stabilized at a moderate level.

© 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.