Moody’s lowers Bermuda’s rating

HAMILTON, Bermuda, CMC - International ratings agency Moody's Investors Services has downgraded Bermuda's rating by another notch, reiterating its concerns about government's mounting debt and lack of an economic recovery.
Moody's lowered Bermuda to Aa3, three notches below the top triple-A level stating that the outlook is negative, reflecting uncertainty about government's debt trajectory over the medium term.
The move ends a review for a potential cut that began on April 3 when Moody’s put Bermuda on a downgrade watch.