Lowering of foreign currency sovereign credit rating unfair
ST GEORGE’S, Grenada, Oct. 9 CMC - The Government of Grenada has described the decision by Standard and Poor’s to lower foreign currency sovereign credit ratings on Grenada to 'SD' from 'B-/B' as premature.
“Government considers the action by Standard & Poor’s as premature considering the terms of the agreement for the 2025 notes which provide a grace period of thirty (30) days after the due date and the notice duly issued by Government to note-holders before the due date. This 30-day grace period has not yet expired”
In a release on Tuesday , the Tilman Thomas led administration sought to assure investors that it will continue to meet its obligations” as and when they fall due on the Regional Government Securities Market (RGSM)”
(Details in Business section)