CariCRIS reaffirms credit rating

There’s more good news about Barbados’ credit rating, following the positive review from Standard and Poor’s last month.

The Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed the regional scale ratings on the Government of Barbados, of Cari-BB (local currency) and Cari-BB (foreign currency), with a stable outlook.

The ratings have been supported by fiscal consolidation, which continues despite COVID-19 pressures and other unanticipated shocks.

It also factors in comfortable and growing foreign currency reserves, good financial sector stability indicators, and strong tourism fundamentals.

CariCRIS says all of these actors suggest robust post-COVID-19 rebound potential.

However, the ratings are also tempered by considerations of high debt to GDP, and the uncertain economic recovery.

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