15 August 2008

Bermuda gets good financial ratings from Fitch

Fitch has recently reaffirmed its good ratings for Bermuda's foreign-currency debt. What does that mean? It means that Fitch is telling lenders that Bermuda is a safe borrower. So all is not gloom and doom. I'll have to dig around though because I recall that recently one of the other ratings agencies (there are several of them) was a bit jaded about Bermuda. Also, given the current subprime financial crisis, we've seen that the ratings agencies are not always to be trusted in their ratings: many things they rated as top quality have turned out to be bad performers.

No comments: