Standard & Poor’s Affirms Bermuda’s A+ Rating

November 20, 2019

Minister of Finance Curtis Dickinson today [Nov 20] announced that ratings agency Standard & Poor’s [S&P] has “affirmed Bermuda’s A+ long-term sovereign credit and senior unsecured debt ratings as well as its A-1 short-term rating and its AA+ transfer and convertibility assessment on Bermuda after the Government borrowed $170 million to honor its guarantee to the lenders of the Caroline Bay project. The outlook also remains positive.”

Minister Dickinson stated, “According to S&P, the outlook remains positive, as they believe there is a chance the Government could reach fiscal balance, which combined with growth in external Government asset values in line with historical averages, could put Bermuda on a path toward building a sustainable net creditor position.”

Minister Dickinson expanded further by saying, “I am pleased that S&P has viewed Bermuda in a positive light and has affirmed Bermuda’s A+ long-term sovereign credit and senior unsecured debt ratings given the action taken by this Government to purchase the Caroline Bay loans.

“In the S&P report there was recognition that the Government is on track to produce a balanced budget in the current fiscal year, and if sustained, should lower our government debt burden.

“There was also mention of the Government’s policy making being effective and predictable. These comments highlight the fact that the PLP Government remains committed to the island and its economy and demonstrates this through transparent and prudent governance”

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Comments (18)

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  1. Stinky D. says:

    Which Bermuda gets an A+? There is 2

  2. wahoo says:

    Did he give a reply to the Auditors report?

    • mixitup says:

      Who’s he? You mean your Premier? The disrespect is rank in here….Such a scared insecure bunch.

  3. mixitup says:

    And thank you PLP… Thank you for a slow and steady approach, rather than a “lets have a sail boat race!” “Let’s Guarantee Morgan’s Point so they can build it fast!” “Let’s shoe-horn in Pathway’s to status” “Let’s Give away Airport Revenues for 30 years!” <—-notice who benefited most from all of these "Masterful Ideas"? It certainly was not the majority.

    And BTW, the Millions spent in Labour at the New Airport, the 30% Canadian workers are good to go when this is all over… The Bermudian will have to cough a good portion of theirs back, covering the added $170 million Morgans Point Debt, not to mention paying AECON and their shareholders for the next 35 years in whatever new "Airport Fee" they come up with…… Oh I forgot, and their electricity bill.. Suckers!

    • sandgrownan says:

      A slow and steady approach to circling the drain. 18 years of PLP failure, they and you, own this, the debt, the declining confidence…the PLP is the status quo.

      • mixitup says:

        Hold on? Isn’t this a positive story? I swear you and your following “Have Bermuda’s best interest at heart” Not one positive word out of your mouth.. Begs the question, what really is the issue? Hmmmm

      • mixitup says:

        “declining confidence”??

        I’d rather stick with Standard and Poor’s assessment. It’s absent of bitterness, insecurities, paranoia, lack of self-confidence. Amongst other things.

    • Triangle Drifter says:

      And to think that we are entitled to have a free airport built for us all set to rake in all those landing fees etc. without any expenses whatsoever.

      Silly OBA. Passed up on free stuff.

    • saud says:

      Why are Bermudians so racist and homophobic?

  4. La Verdad says:

    Stinky D has stinky grammar.

  5. Stinky D. says:

    As long as you got the message it’s all good

  6. mixitup says:

    Take note of the Whole ’7′ comments..