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BRIEF-‍Fitch says liquidity, GDP challenges for Caribbean credit after Irma​
September 11, 2017 / 4:00 PM / in 2 months

BRIEF-‍Fitch says liquidity, GDP challenges for Caribbean credit after Irma​

Sept 11 (Reuters) - Fitch‍

* Fitch says liquidity, GDP challenges for Caribbean credit after Irma​

* ‍Fitch says effects of hurricane Irma could slow Dominican Republic’s GDP growth in 2017, but storm damage poses little risk to sovereign’s ratings​

* ‍Fitch says damage after Irma is expected to have a greater near-term impact on issuers in Puerto Rico and U.S. Virgin Islands​

* Fitch says ‍“direct damage from hurricane’s flooding and lower tourism revenues could reduce Dominican Republic’s (BB-) GDP growth in short term​”

* ‍Fitch says storm-related expenditures, lost revenue could present significant near-term challenges for U.S. Virgin Islands Water and Power Authority

* ‍Fitch says storm-related expenditures could compromise Puerto Rico Aqueduct and Sewer Authority’s already-strained liquidity, driving it closer to default​

* Fitch says ‍there will be limited ratings impact of Irma on issuers in Puerto Rico as commonwealth and PREPA have already defaulted on debt obligations​ Source text for Eikon:

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