We’ve arrived! Moody’s cuts Barbados to junk status.

Barbados Rotten Fish 3

Notin’ much more ta say ’bout dis ya know…

Moody’s Investors Service on Thursday downgraded Barbados’ credit rating to Ba1, into junk territory, citing the Caribbean country’s lukewarm economy and rising government debt levels.

The rating also carries a negative outlook, with the agency saying that the country’s economic prospects remain weak.

“Moody’s believes that the country’s growth prospects remain very limited due to its deteriorating competitiveness and declining productivity coupled with heavy dependence on tourism, particularly from the United Kingdom and the United States,” Moody’s said in a statement.

“While the worst appears to be behind Barbados both in terms of fiscal deficits and economic deterioration, Moody’s anticipates that the government’s deficits will remain large for the next few years and its debt levels will continue to rise, albeit at a slowing pace,” the statement added.

Standard & Poor’s rates Barbados BB-plus with a stable outlook, also a speculative rating.

Reuters: Moody’s cuts Barbados rating to junk, could cut more

20 Comments

Filed under Barbados, Economy

20 responses to “We’ve arrived! Moody’s cuts Barbados to junk status.

  1. Davis B

    Never happen with Owen Arthur in charge!

  2. 65

    @ Davis B

    Probably happened becasue he WAS in charge! God help us all…the BLP/DLP and their yardfowlds and hacks on each side have, and are, certainly helping themselves.

  3. Nostradamus

    @ Davis B

    On the contrary happened becasue he WAS in charge and now this lot are just as bad.. God help us all…the BLP/DLP and their party hacks certainly have helped themselves.

  4. Pot calling the kettle black

    The leaders of these rating agencies should all be in jail for passing off
    financial garbage as Triple or Double A. The retirement, pension funds and savings of the workers of the world, similar to Clico policy holder investments were and are being stripped of any value.

    Assuming there was a market, what would the assets of the Barbadian government really be worth such as Gems, Dodds, NIS etc?

    The majority of these ruinous financial decisions were inflicted by the soon to be President for Life of the Republic of Barbados, Owen Arthur.

    Now that the world has not come to an end according to the Mayan calendar, we can all hold hands and go over the fiscal cliff together for a government not stepping up and paying its bills for over a decade and permitting the billionaires to pay little or no taxes.

    God Bless America!

  5. anonymous158

    @ David B

    The S&P downgrades Barbados (3) times before 2008; It happened three times with Owen in charge! Barbados before 2008 was not financially stable. Three (3) S&P downgrades proves this.

  6. just want to know

    When you can’t even get flying fish in Barbados, you know it is in a junk state. When O. A was in government, and had difficulties with T. & T with the fishing, the then opposition ( DLP ) was going to get it all sorted out, we are still waiting. What a lot of hog wash. Every night on the news they take up all the time talking junk instead of proper news, on taxpayers head. What a load of s–t pots.

  7. anonymous158

    Don’t forget Owen is a drunk, inept and corrupt.

  8. sith

    Tighten your belts. There is no justification for a fixed currency pegged at 2 to 1 to the US$. Certainly not worth more than the Trinny $ at 6.4 to 1. Everyone living high off of the hog based on a very overvalued currency while the Government deficits causing foreign exchange leaks. The leaks along with declining tourism going to put stress on the foreign exchange reserves. If we cant be competitive at a 2 to 1 rate what we going to do to get more foreign exchange.

  9. just want to know

    anoymous158 Owen may drink rum made in Barbados, but David Eswick & his minions drink imported whiskey, Gin, & Brandy that take up foreign exchange. Six one half dozen of the other. So try to have good discussions that could help the country.

  10. anonymous139

    @ just want to know

    I have not yet seen David Eswick and or his minions drunk “before an audience and or public”. Owen Arthur is a public drunk. Several Youtube videos proves this. Try to have good discussions that could help the country.

  11. Sunshine Sunny Shine

    Both parties, but moreso the BLP. are at fault for where we are today.

  12. "Willie & Rib Bone Consultants, Esq-Ltd".

    You sayin’ dat Willie and Rib Bone Consultants, Esq-Ltd can buy a piece of da action for scrap prices?
    Soundin’ like a deal to me!

  13. PLANTATION DEEDS FROM 1926-2012 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    They must know what we know , Fraud is the best and biggest business in Barbados, Check your Deeds , make sure you have CLEAR TITLE and not good title . Do your home work before you buy , to good to be true ? it got to be lie

  14. just want to know

    what about the other DLP minister that was caught at New York airport with Millions of US dollars in his brief case, his diplomatic pass was taken away. Some like it hot, some like it cold, maybe some light can be put on this, whether it is true or not. Some people see the speck in their neighbours eye, but cannot see the plank in their own. O. C is going to win the election when ever it is called,whether he is a drunk or not. Just remember too he is a diabetic just as the present PM who passes out at every function.

  15. Well Well

    I am sincerely praying for Bim

  16. PLANTATION DEEDS FROM 1926-2012 AND SEE MASSIVE FRAUD ,LAND TAX BILLS AND NO DEEDS

    VOTE them all out and get new People. To vote for a crook makes you a crook also, Dont sit back and say you never knew,You all know and now what will you do?
    If you put back the crooks back in power then take what ever you get and stop the bitching , PIMP to a Whore , TAKE it and shut up

  17. Sunshine Sunny Shine

    @ Just want to know
    Who is that politician from the DLP that was caught with millions of US dollars in his diplomatic bag. Tell ma I want to know. Is it that housing minister fellow who is alleged to be getting 5 grand off every house the white man that people say kill he son, is building?

  18. Rastaman

    Only five grand ? I heard it was ten?

  19. Well Well

    God, will it never end?? Told u all get the lawyers out of politics, their corruption is total.