Results 1 to 5 of 5

Thread: Moody’s downgrades Juliana

  1. #1

  2. #2
    cec1 is offline
    SBH Insider Joined: Jul 2008 Posts: 5,034

    Re: Moody’s downgrades Juliana

    lnteresting report, Andy . . . the Notes definitely could be a "buy" as the pricing of them reflects this bad news.

  3. #3
    andynap is offline
    SBH Insider Joined: Oct 2002 Philadelphia Posts: 43,474

    Re: Moody’s downgrades Juliana

    Quote Originally Posted by cec1 View Post
    lnteresting report, Andy . . . the Notes definitely could be a "buy" as the pricing of them reflects this bad news.
    What I don’t like is the estimate of Moody that the next. 24 months at Juliana won’t be good for flights in. That impacts the frequency of flights from here.


    Andy

  4. #4
    cec1 is offline
    SBH Insider Joined: Jul 2008 Posts: 5,034

    Re: Moody’s downgrades Juliana

    Agree, Andy . . . and, unfortunately, the St. Maarten government seems to be pretty dysfunctional, which adds credibility to an assessment that the next 24 months don't offer much hope for recovery of tourism on SXM. At a minimum, I would think that the government would be issuing press releases about recovery at the airport -- setting & managing expectations (presumably with an upbeat view). And where is the Bureau of Tourism? Perhaps the government should contract out its PR to Wimco, which has done a terrific job in offering bright (and well deserved ) commentary on recovery of SBH.

  5. #5
    phil62 is offline
    SBH Insider Joined: Feb 2005 Glen Cove, NY Posts: 6,048

    Re: Moody’s downgrades Juliana

    The big issue, and the probable reason for Moody's pessimism, is the reluctance of the Island government to accept the loan demands of both Holland and the World Bank for what amounts to financial oversight. Knowing the history of the St Maarten Government, they are right to demand it, and eventually they'll get it, or the Island will simply die.

    It's a very sad, but very predictable situation. Back in the 80's, when the Island was part of the Netherlands Antillies, they were placed under "higher supervision" by the Dutch Government because the books never seemed to balance.

    Phil

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •