RATING ACTION:
On September 14, 2023, CariCRIS reaffirmed the Issuer/Sovereign Credit ratings of CariBBB+ (Foreign and Local Currency Ratings) on its regional rating scale assigned to the The Government of Anguilla (GOA). A stable outlook was maintained.
RATING SENSITIVITY FACTORS:
Factors that could lead to an improvement in the Ratings and/ or Outlook include:
- Annual real GDP growth in excess of 5% over pre-hurricane level of GDP for at least 2 years.
- A fiscal surplus of more than 5% of GDP recorded for at least 2 consecutive fiscal periods, with no breaches of debt metrics.
- Meaningful diversification of the economy such that the contribution from the hotel & restaurant sector declines by an average of two percentage points for two years while the economy at least maintains real GDP at the same level over the period.
Factors that could lead to a lowering of the Ratings and/ or Outlook include:
- An increase in debt to GDP ratio to above 70%.
- A change in the country’s status as a British Overseas Territory or a material change in the level of support rendered to Anguilla.
- The banking sector’s capitalization ratio falling below 8%.
Analysts’ Contact Info:
Stefan Fortuné
Phone: 1-868-799-6751 (m)
Melvyn Baptiste
Phone : 1-868-627-8879
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