Major credit rating agency warns of more Caribbean debt restructurings
May 21, 2013
NEW YORK, CMC - A major international credit rating agency is warning of more Caribbean sovereign debt restructurings ahead of the Caribbean Development Bank (CDB) annual meetings in St. Lucia this week.
The Wall Street-based Moody’s Investor Service said on Monday that it expects sovereign credit quality to “continue deteriorating in the region.
“We see the defaults of Belize (Caa2 stable), Jamaica (Caa3 stable) and Grenada (unrated) over the past year as being part of a broader debt crisis in the Caribbean,” it said in a report.
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