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Bahamas: BTC re-nationalization to take center stage at upcoming meeting with Moody’s
The government of Bahamas will get an opportunity to discuss its plan to regain control of the Bahamas Telecommunications Company (BTC) with Wall Street credit ratings agency Moody’s during a meeting in Nassau this coming October.
(More: Bahamas: Christie defends decision to re-nationalize Telephone company)
Moody’s recently gave The Bahamas and Cable and Wireless Communications (the BTC parent company) a double negative credit rating assessment.
Cable and Wireless Communications purchased a 51 percent stake in the BTC in a deal approved by the previous administration led by former prime minister Hubert Ingraham.
Shortly after the assessment was given, The Bahamas, represented by Minister of State for Finance, Michael Halkitis, rejected the assessment, calling it an “uninformed” opinion…