A Wall Street credit rating agency has confirmed The Bahamas could see its rating lowered to “junk” bond territory this year if “important reforms” are not undertaken, and further economic deterioration occurs – but has asserted that it is not looking for value-added tax (VAT) specifically.
Standard and Poor’s lead analyst for The Bahamas, Lisa Schineller, said she could not say at this point when or if a downgrade would occur, but confirmed the agency views it as quite possible that this country could experience a “one- to two-notch” downgrade in 2014, the latter placing The Bahamas in a position where any bonds issued by the government would no longer be considered “investment grade”, she confirmed.
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