December 20, 2013 at 11:25 a.m.
Bond notes gets AA- Fitch rating
Fitch Ratings has assigned an ‘AA-’ rating to Bermuda’s $50 million senior notes maturing on December 16, 2023.
The notes have a coupon rate of 4.75%.
The net proceeds from the issuance of the notes will be deposited in the Sinking Fund established in 1993 as a separate legal entity for the repayment of government borrowings.
The rating is in line with Bermuda’s long-term local currency Issuer Default Rating (IDR) of ‘AA-’ with a Negative Outlook.
Sensitivities
The rating would be sensitive to any changes in Bermuda’s long-term local currency IDR.
On June 7, 2013, Fitch downgraded Bermuda’s long-term local currency IDR to ‘AA-’ from ‘AA+’ and revised the Outlook to Negative from Stable.
The Bermuda Sun bids farewell...
JUL 30, 2014: It marked the end of an era as our printers and collators produced the very last edition of the Bermuda Sun.
Events
August
To Submit an Event Sign in first
Today's Events
No calendar events have been scheduled for today.
Comments:
You must login to comment.