Grenada’s credit rating improves
Saturday, April 3, 2004
ST GEORGE‘S, Grenada: Grenada’s ability to
improve its creditworthiness has again been reflected in the ratings by the
Institutional Investor magazine. During the
period September 2003 to March 2004, Grenada ranked second out of 172
countries for improved creditworthiness, receiving an 8.9 point increase. For
the period March 2003 to March 2004, Grenada ranked fourth out of the 172
countries surveyed, with an 8.5 point increase.
Grenada ranked 67th with a credit rating of 42.8, reflecting the six-month
change of 8.9 and the one-year change of 8.5 points.
In its March 2004 edition, the Institutional Investor Country Credit scorecard
recorded a regional rating increase of 3.1 points for Latin America and the
Caribbean, compared to Grenada’s 8.9. Within the region, Grenada jumped from
13th to 8th, passing Brazil, Peru, Colombia, Guatemala and Belize. On a global
basis, Grenada moved from 81st to 67th.
The credit ratings are based on information
provided by senior economists and sovereign risk analysts. Countries are
graded on a scale of zero to 100, with 100 representing those countries with
the least chance of default. This rating
follows Grenada’s strong economic performance in 2003, during which the
economy grew by 5.7 percent, compared an average in the Organisation of
Eastern Caribbean States of 2.4 percent.
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