THE pronouncements of rating agencies continue to wield tremendous power over the ability of governments and companies to access international capital markets and the terms on which they secure financing.
When we are faced with a slowdown in earnings, it is always natural to seek to reduce spending and hunker down for more difficult times. This reaction is logical when we are faced with uncertainty and is the principle behind business and consumer confidence measures.
Standard & Poor’s Ratings Services lowered its rating on Barbados to the brink of junk territory, saying the island nation’s debt burden will increase at least in the next two years.
THE new US Congress that begins in January will confront an American economy and a job market that will improve only slightly next year, according to an Associated Press survey of leading economists that found them gloomier than they were three months ago.