Caribbean & Central America - February 2015 (ISSN 1741-4458)

*** BARBADOS SUFFERS CONSEQUENCES OF DOWNGRADE. In December 2013, Barbados was knocked by the ratings agencies, with Moody’s marking it down two grades from Ba1 to Ba3. A year later, despite some quite draconian measures on government spending, Standard & Poor’s (S&P) lowered its long-term sovereign credit rating on Barbados from ‘B’ to ‘BB-‘ with a negative outlook. As a direct consequence of the latest downgrading, on 27 January the regional insurance giant Sagicor Financial Corporation announced that it is planning to relocate its registered offices from Barbados.

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