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What is a credit rating? It’s an assessment of the probability that a country, business or individual will be able and willing to pay its debts. A rating is based on all available information about assets, income, exposure to financial risks and past...

Ratings agency Fitch’s downgrade of Bermuda’s currency ratings is not a great surprise. Fitch traditionally has been the most bullish of the agencies towards Bermuda, so the fact it has now followed the others’ lead was mainly a matter of time. What...

Auditor General Heather Matthews called for greater efforts chasing up delinquent employers as pension and tax arrears climbed once again. And Government’s Consolidated Fund for 2009 failed to get a clean bill of health, for the second year in a row,...

The 2010 Report of the Auditor General was tabled in Parliament today. Auditor General Heather Jacobs Matthews said the report was delayed because the Audit Committee had not performed its duties in 2011 And she expressed concerns about the Governmen...

Parliamentary responses from former Transport Minister Derrick Burgess were so vague they left Government open to accusations of cronyism, according to Shadow Minister Patricia Gordon-Pamplin. Mr Burgess revealed his former Ministry spent $470,000 on...

A geotechnical survey was never undertaken at Dockyard’s Heritage Wharf because of the tight schedule for cruise ship arrivals, Government has revealed. Shadow Environment Minister Michael Fahy charged that the project had been “rushed”, as the pier ...

A wage cut and pension freeze for public sector workers has still not happened, nearly three months after it was agreed in principle. Bermuda Trade Union Congress president Shine Hayward yesterday said talks are ongoing over the move which would save...

The Auditor General is considering “alleged irregularities” in relation to a low-cost public housing scheme at Southside. Heather Jacobs Matthews was asked to look into financial matters in relation to the Orange Hole development by Kevin Bean-Walls,...