Caribbean Development Bank Cut

S&P has lowered the credit rating of the Caribbean Development Bank’s to AA+ from AAA, as its risk management has weakened. “CDB has failed to comply with one of its internal liquidity policy guidelines, and borrower concentration remains high,” the agency says. S&P expects that the bank’s financial profile will remain stable, with new capital subscriptions offsetting lower profitability seen this past year and that it will remain so in the near future. The outlook is stable.