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Saturday, November 18 2017 @ 11:03 PM AST

The Bahamas spared downgrade, now higher rated than Trinidad & Tobago

Trinidad and Tobago, junk-rated at Moody's, lost its ability to say it was the highest rated member of the Caribbean Community (CARICOM) in April this year when it was downgraded to Ba1 from Baa3.

The much smaller economy of The Bahamas, analysts believed, was due for a downgrade itself. Historically, the tourism-dependent chain of islands were always lower-rated than Trinidad and Tobago.

However, following a now-concluded review for downgrade, The Bahamas was able to maintain its Baa3 investment grade rating, making it the new highest-rated sovereign in the Caribbean.

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The British territories of the Cayman Islands and Bermuda remain A-rated because of anticipated extraordinary support from the UK. However, they were never considered peers of T&T and The Bahamas by the rating agencies.

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