Global Credit Research – 08 Dec 2020
New York, December 08, 2020 — Moody’s Investors Service (“Moody’s”) reviews all of its ratings periodically in accordance with regulations — either annually or, in the case of governments and certain EU-based supranational organisations, semi-annually. This periodic review is unrelated to the requirement to specify calendar dates on which EU and certain other sovereign and sub-sovereign rating actions may take place.
Moody’s has now completed the periodic review of a group of issuers that includes St. Vincent and the Grenadines and may include related ratings.
The review did not involve a rating committee, and this publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future; credit ratings and/or outlook status cannot be changed in a portfolio review and hence are not impacted by this announcement.
For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.
The credit profile of SVG (issuer rating B3) incorporates the country’s “b2 ” economic strength, reflecting the small size and limited diversification of the economy, weak real GDP growth; SVG “ba3” institutions and governance strength, reflecting relatively favorable scores in the WGI and our qualitative assessment of the government’s ability and willingness to pursue policies that support timely debt payment; its “b1” fiscal strength, taking account of the government’s high debt burden and relatively high share of foreign currency debt; and its “ba” susceptibility to event risk, reflecting moderate external vulnerability risk, a high susceptibility to external shocks, and exposure to weather-related disasters that would severely impact the balance of payments.
This document summarizes Moody’s view as of the publication date and will not be updated until the next periodic review announcement, which will incorporate material changes in credit circumstances (if any) during the intervening period.
The principal methodology used for this review was Sovereign Ratings Methodology published in November 2019. Please see the Rating Methodologies page on www.moodys.com for a copy of this methodology.
This announcement applies only to EU rated and EU endorsed ratings. Non EU rated and non EU endorsed ratings may be referenced above to the extent necessary, if they are part of the same analytical unit.
This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.