16 October, 2009
The announcement on Caribbean 360 appears devastating for Anguilla. Word was out yesterday that the regional credit rating agency had downgraded
Anguilla’s sovereign debt.
Caribbean Information and Credit Ratings Services Limited is allegedly the regional credit rating agency.
Basically, they tell investors whether or not to buy bonds and other sovereign debt issued by a government.
So, I rushed to the company’s website to find out what the alleged crisis in
Anguilla was all about.
See it for yourself. It turns out that there has been absolutely no change in
Anguilla’s credit rating since the last published rating. We have long had an AA rating. That is where we remain today, at any rate according to their own website.
Unless the company is so incredibly inefficient that its website does not reflect in real time the ratings allocated by the company! In which case, what credibility do they have a right to?
IMHO the story on
Caribbean 360 is complete fiction.