Government of Bermuda
Deputy Premier and Minister of Finance the Hon. E.T. Richards JP MP today advised that Standard & Poor’s (S&P) has affirmed Bermuda’s rating at A+ and maintained our outlook stable.
He said he welcomed the ratings notification on Bermuda published by S&P.
| SECTION A | SECTION B | SECTION C |
| Public Utilities | Devonshire Parish | Warwick Parish |
| City of Hamilton | Hamilton Parish | Pembroke Parish |
| Sandys Parish | Southampton Parish | |
| St. George’s Parish | Smith’s Parish | |
| St. George’s Corporation |
Yesterday (Sept. 12) the Minister of National Security, Sen. Jeffrey Baron visited the offices of RenaissanceRe, Windward Place to discuss Bermuda’s strength, resilience and solid reputation as an offshore centre.
The RenaissanceRe meeting is an annual one which brings together the reinsurance company’s executives as well as its Legal, Regulatory and Compliance teams.
The Government of Bermuda is responsible for the integrity, objectivity and fair presentation of the financial statements of the Consolidated Fund. The Accountant General prepares the statements on behalf of the Minister of Finance in accordance with public sector accounting standards, using the Government's best estimates and judgement where appropriate.
Financial Comparison Report
The Ministry of Finance has released a Financial Comparison Report on the Airport Redevelopment Project.
The report provides additional information to the public about the financial characteristics of various procurement options available for the Airport Redevelopment Project (the “Project”), and the benefits of the procurement option selected relative to the most viable alternatives.
The Department of Social Insurance would like to advise the public that as a result of the temporary office move to Global House in May, there is still a possibility that not all new pension applications were processed in time for the August 15, 2016 payment.
New applicants for benefits who submitted prior to May 31, 2016, and whose 65th birthday was on or prior to that date and who did not receive a payment on August 15, 2016, should contact the Department at 294 9246 to allow for an expedited payment.
I was pleased to hear that People’s Campaign have finally acknowledged that Bermuda really does need a new airport.
However, placing an infrastructure project that will benefit all Bermudians plus our leisure and business visitors in the context of slavery is unfortunate, misplaced and deliberately inflammatory.
I wonder if those Bermudians who will leave the ranks of the unemployed to return to the dignity of honest work will consider themselves enslaved.
The Hon. Everard T. Richards Ministerial Statement:
Mr. Speaker, I am pleased to be able to inform the House of the highlights of my fourth visit to Brussels and Paris as Finance Minister. I was accompanied by Alastair Sutton; Bermuda’s Advisor in Brussels’ and part of our “competent authority” there.
The Deputy Premier and Minister of Finance the Hon. E.T. Richards JP MP today advised that Moody’s Investors Service has downgraded Bermuda’s rating to A2 from A1 with a stable outlook.
”Given the momentum we continue to gain in reducing the deficit, as outlined in the government medium-term expenditure framework, it is disappointing that Moody’s has chosen to downgrade Bermuda,” the Minister said.
The ratings agency stated that the “key drivers” of the downgrade were the following: