Hashtag: #BermudaDowngrades

Fitch Ratings Downgrades Bermuda To ‘AA’

Fitch Ratings Downgrades Bermuda To ‘AA’

[Updated with Premier/OBA response] Fitch Ratings has downgraded Bermuda’s Long-Term Foreign Currency IDR to ‘AA’ from ‘AA+’, and Long-Term Local Currency IDR to ‘AA+’ from ‘AAA’. A statement released by Fitch today [June 26] said, “The downgrade of Bermuda’s ratings reflects its weak... Read more of this article

Standard & Poor’s Downgrades Bermuda Rating

Standard & Poor’s Downgrades Bermuda Rating

[Updated w/Bob Richards comments] Premier and Finance Minister Paula Cox today [Dec. 29] announced international ratings agency Standard & Poor’s [S&P] has lowered its long-term sovereign rating on Bermuda from AA to AA-. A statement released said, “The Ministry of Finance spoke with S&P today about this latest action and was advised... Read more of this article

Bob Richards on Aon Downgrading Bermuda

Bob Richards on Aon Downgrading Bermuda

Shadow Finance Minister Bob Richards commented on the recent news that Aon downgraded Bermuda saying: “We don’t have much to say on this matter other than what we’ve been saying for a long time now: The Government is presiding over a serious weakening of the Bermuda’s once-miraculous economy.This is primarily due its reckless... Read more of this article

Aon Downgrades Bermuda Rating

Aon Downgrades Bermuda Rating

Bermuda is one of 19 countries downgraded in Aon’s 2011 Political Risk Map,  its benchmark annual review of political and economic risks. Aon Corporation,a leading international provider of risk management services, insurance and reinsurance brokerage, lowered Bermuda’s rating from a low-risk jurisdiction to medium low-risk. Despite its... Read more of this article