Moody’s downgrades the Bahamas’ sovereign credit worthiness

The US-based rating agency, Moody’s has downgraded the sovereign credit worthiness of the Bahamas.

This even as the country welcomed a new government yesterday.

Moody’s slashed the country’s long-term issue and senior unsecured ratings to ‘Ba3’ from ‘Ba2.

It warned that the devastation inflicted by the COVID-19 pandemic and Hurricane Dorian in 2020 will have “lasting consequences” for the Bahamian economy, predicting that stopover arrivals will return to pre-pandemic numbers in 2024.

About The Author