#Bahamas, December 18, 2017 – Nassau – The Bahamas did not improve on its credit rating in the holiday season’s report coming from Standard & Poors; the S&P maintained the same rating for The Bahamas as it did last Christmas. A ‘BB+/B’ level with a chance for the Minnis Administration to prove it can deliver on its fiscal and economic turnaround strategy, has given the country some stability but it still means The Bahamas economic status is considered, ‘junk’.
Finance Minister Peter Turnquest was talking to media following the decision by S&P, saying what the former administration promised Standard and Poor was unreasonable, that the agency was given, what he called, ‘big stories’ that were never followed through. At least one media entity is calling the Finance Minister out on the comment though, reminding that this new FNM Administration had expressed it could get The Bahamas an upgrade by the time of this recent review.
The Bahamas is striving to get to ‘investment grade’ and Standard and Poor explained, they could further slash The Bahamas rating if the Government’s financial position did not improve. The S&P said: “This deterioration has led to weakened public finances and higher debt levels. Nevertheless, the country’s strong institutional foundation continues to provide necessary checks and balances that have prevented further erosion to creditworthiness.”
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#BahamasgetsstableS&Prating
