Standard & Poor’s credit agency here has downgraded the Caribbean Development Bank (CDB) from (AAA) Triple A, the firm’s highest rating, stating that its risk management has weakened.
“We lowered the long-term issuer credit rating on the bank to ‘AA+’ from ‘AAA’ and affirmed the ‘A-1+’ short-term rating,” said the Wall Street-based Standard & Poor’s Rating Services (S&P) in a statement issued on Wednesday.
(More: Moody’s downgrades the CDB)
But it added,
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