Barbados Positioned for Credit Rating Upgrade Pending Fiscal Improvements and Economic Reforms - Fitch Analyst
March 18, 2024
Barbados works towards achieving a credit rating upgrade from Fitch Ratings by improving government finances, reducing reliance on foreign borrowing, and implementing reforms for investment and economic growth.
A CREDIT RATING UPGRADE is not beyond Barbados.
However, the chances it gets one from Fitch Ratings hinge heavily on further improvement in Government’s finances, reduced reliance on foreign borrowing from multilateral institutions, and reforms kicking in to improve the outlook for investment and economic growth.
Fitch’s associate director Christopher Dychala, who is the rating agency’s primary rating analyst for Barbados, gave that opinion, while sharing that since the outlook on Barbados’ rating is now positive, a downgrade “is less likely.”. (SC)
