{"id":78062,"date":"2014-09-03T20:33:08","date_gmt":"2014-09-04T00:33:08","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/target\/moodys-lowers-credit-rating"},"modified":"2014-09-06T11:19:41","modified_gmt":"2014-09-06T15:19:41","slug":"moodys-lowers-bahamas-credit-rating","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2014\/09\/moodys-lowers-bahamas-credit-rating","title":{"rendered":"Moody’s Lowers Bahamas Credit Rating"},"content":{"rendered":"

\"Moody's<\/a><\/p>\n

THE Bahamas\u2019 sovereign credit rating was yesterday cut to just two notches above \u201cjunk\u201d status, as a leading Wall Street agency reacted to this nation\u2019s \u201csubdued economic growth\u201d and continued fiscal weakness.<\/p>\n

Adding to the fiscal reform impetus, Moody\u2019s slashed the Government\u2019s \u201cissuer\u201d and \u201cunsecured\u201d credit ratings by one place, from Baa1 to Baa2.<\/p>\n

But, on the positive side, it effectively gave a \u201cvote of confidence\u201d in the Government\u2019s Value-Added Tax (VAT) and fiscal reform plans, citing an expected improvement in the Government\u2019s finances as the reason for upgrading its outlook on the Bahamas from \u201cnegative\u201d to \u201cstable\u201d.<\/p>\n

However, the latest downgrade is merely another signal that the Bahamas cannot afford to delay on fiscal and tax reform, and that it must execute properly to hit the targeted fiscal deficit\/national debt reductions it is ultimately projecting.<\/p>\n

And Moody\u2019s action yesterday reinforces that the outside world, especially investors and the international capital markets, are watching the Christie administration\u2019s progress and actions closely.<\/p>\n

Click here to read the complete article at www.tribune242.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Bahamas\u2019 sovereign credit rating was yesterday cut to just two notches above \u201cjunk\u201d status, as a leading Wall Street agency reacted to this nation\u2019s \u201csubdued economic growth\u201d and continued fiscal weakness.<\/p>\n","protected":false},"author":17,"featured_media":78484,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[29,98],"class_list":["post-78062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-economy","tag-financial"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/78062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=78062"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/78062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media\/78484"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=78062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=78062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=78062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}