Bermuda downgraded

| 06/05/2009

(Royal Gazette):Finance Minister Paula Cox has lost her grip on public finances, according to Bermuda’s Opposition after credit rating agency Moody’s downgraded Bermuda Government bonds. Acting Shadow Finance Minister Pat Gordon-Pamplin said the Island’s first ever downgrade by Moody’s was "disappointing news". On Wednesday, Moody’s lowered the Island’s bond ratings to Aa2, with a stable outlook. The agency cited Bermuda’s small size and lack of diversity, and "external shocks" as major factors in the decision.


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