Providenciales, 22 Oct 2015 – FortisTCI has secured a solid BBB from Standard & Poor’s and revealed in a media statement that as long as Government does not make any changes in the regulatory structure or operating license, they should be able to maintain the status.
CEO of FortisTCI, Eddinton Powell said the company is pleased to have secured the BBB investment grade rating which means Fortis is stable and able to attract debt investors. In fact, the power company shared that already it has the reputation of being the first local company to attract debt investment of $90 million from the New York Debt Market; this happened in 2014. These accomplishments bode well for FortisTCI and for the Turks and Caicos and having Fortis Inc as the parent company has been pivotal, Powell shared.
In that media release issued Wednesday, Fortis says, and I quote, “At current projection, we forecast capital investments of approximately one hundred and thirty million dollars ($130,000,000), over the next five years, to meet expected economic growth and to sustain our existing assets.”
In its explanation of a BBB, Standard & Poor confirms that changes could fracture this stable rating and cites naturally that a dip in the economy would also be harmful.
You can read the full release from FortisTCI posted at our website, MagneticMediaTV.com.
Woman dies on Tuesday; 32nd Covid Death for Turks & Caicos
By Dana Malcolm
#TurksandCaicos, January 20, 2022 – The Turks and Caicos has recorded its 32nd death related to COVID-19.
The person, who we are told is a special needs young woman – was unvaccinated and had underlying medical conditions.
The death rate in the Turks and Caicos of both vaccinated and unvaccinated persons has climbed alarmingly this year. In the 21-month period from March 2020 when the country recorded its first case to December 2021, there were 26 deaths recorded in the TCI.
In the 19 days since the start of 2022 that number has increased to 32; which means six deaths already in January.
Cruising should slow down says PAHO
By Dana Malcolm
‘Slow down on Cruising’, that’s the word from the Pan American Health Organization, PAHO in their latest recent press conference.
“In the context of intense transmission, due to the Omicron variant as we have highlighted several times. It is just logical to suspend or at least limit the cruise ship traffic as an outbreak on board might end up exceedingly high and probably will go beyond the capacity of local health services”
Both the Bahamas and the Turks and Caicos are experiencing a massive uptick in cases and several warnings regarding cruise travel have been issued by the US Centers for Disease Control.
Cruising just resumed for many regional countries this past Summer, Turks and Caicos was among the latest to restart on December 13.
A stop to sailing would be devastating to economies, however, ports of call like Grand Turk which are reeling with rocketing case numbers of COVID are urged to consider the suggestion of slowing down on ships by PAHO.
Cayman gets its second ‘Sir’; former Premier Alden McLaughlin knighted on Jan 1
By Dana Malcolm
#Cayman, January 20, 2022 – Former Premier of Cayman Alden McLaughlin was knighted at the start of 2022; named in the Queen’s New Year Honors List. He is only the second Caymanian to have ever received a knighthood from her Majesty Queen Elizabeth II.
Current Governor, Martyn Roper extended congratulations saying, “This is an outstanding personal achievement for former Premier McLaughlin, one of the most important and impactful political leaders in Cayman over the last 21 years. It is a significant moment for our islands. This historic award is only the second ever Knighthood to a Caymanian since the first in the 1990s. It is a strong signal of the respect in which Cayman is held and a visible demonstration of the progress Cayman has made as a vibrant democracy with strong good governance foundations.”
Sir McLaughlin, who is also now a QC attorney, served two terms as premier and had a career in politics that spanned 21 years. McLaughlin is known for his role in modernizing Cayman’s constitution.
Current premier G. Wayne Panton described the occasion as a unifying moment for the country saying, This is a day of celebration and great pride for all Caymanians as a son of our soil has been bestowed one of the highest honour. Today marks a new and most unique storyline in the history of the Cayman Islands. In considering the rarity and magnitude of this occasion, this is certainly a unifying moment for our community.”
Sir Alden McLaughlin, 60, was appointed as a Knight Commander of the Most Distinguished Order of Saint Michael and Saint George on January 1, 2022.
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