Caribbean assessed as ‘high risk’ in recent S&P Global report
/ Our Today
administrator
Global financial information and analytics company S&P Global has assessed the Caribbean as having a high risk in its latest risk report done in April
The Bahamas is listed as having a level four, moderately high risk profile in S&P Global’s April country risk assessments while Jamaica is among a number of its Caricom neighbours with a ranking of five.
The Bahamas’ position has not changed since the last revision to S&P Global’s country risk assessment on May 11, 2020. The S&P Global country risk assessments rank country risk on a scale of level one (very low risk) to level six (very high risk).
The Caribbean region as a whole carries an average rated risk of five. Jamaica, Barbados, Dominican Republic and Grenada are listed as level five (high risk).
On the other hand, the Cayman Islands and Bermuda are listed at level three (intermediate risk). Turks and Caicos, as well as Trinidad and Tobago, are listed at level four along with The Bahamas.
“We define ‘country risk’ as the broad range of economic, institutional, financial market and legal risks that arise from doing business with or in a specific country and can affect a non-sovereign entity’s credit quality,” says S&P Global in its risk report. The ratings agency stated it plans to publish the next global and regional sovereign outlooks in July 2021.
As of March 31, in its Global Sovereign Ratings Trends for the first quarter of 2021, credit rating agency S&P Global Ratings, a subsidiary of S&P Global, has placed The Bahamas on a negative outlook.
Comments