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Friday, October 29

S&P lowers Barbados to brink of junk

JamaicaObserver.com: "Standard & Poor's Ratings Services lowered its rating on Barbados to the brink of junk territory, saying the island nation's debt burden will increase at least in the next two years.
The ratings agency said the higher debt will occur because of delays in the government's fiscal-consolidation efforts and a slower-than-expected economic recovery. Tourism is critical to the Caribbean nation, but the U.S. recession reduced business and leisure travel. That has led to an increasingly pessimistic view from ratings agencies.
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