Credit rating agency Fitch Ratings has once again relegated the Nassau Airport Development Company’s (NAD) debt rating to a negative outlook, with no change in the rating score, pointing to the country’s economic risks post-Hurricane Dorian as a limiting factor for the country’s main airport and what the rating agency sees as a country lacking fiscal buffers. While the Fitch rating for NAD remains at BBB-, its outlook has degraded from stable, which it received in 2018, to negative in the most recent rating report acquired by Guardian Business. “The outlook revision reflects concerns with respect to the weakening credit quality of the Bahamian sovereign, particularly the risk of imposing controls on the transfer of foreign currency for the USD denominated notes,” the Fitch report states.

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