Skip to comments.Climate Change a Threat to Credit Rating
Posted on 01/04/2016 12:29:22 PM PST by Up Yours Marxists
Climate change could put Bermuda at risk of greater economic damage and dent its sovereign credit rating more than many countries and islands.
That is the finding of a speculative report by Standard & Poor's Ratings Services.
Using direct damage data from Swiss Re, the agency estimated the possible adverse effect of climate change on 38 countries.
It based its measurements on the expectation of a once-in-250-year natural catastrophe event striking, and the impact being exacerbated a further 20 per cent to represent the magnified additional damage expected to be inflicted due to climate change.
Projected out 35 years to 2050, the report suggests the costs associated with a once-in-250-year hurricane would increase Bermuda Government's debt by 16 per cent of gross domestic product. That assessment jumps a further 8 per cent once the additional damaging impact of climate change is factored in.
(Excerpt) Read more at royalgazette.com ...
Deficit spending is a much more risk to a country’s credit rating.
Especially to a country that produces nothing - except drunk tourists.
and witches. witches can downgrade a country’s rating.
Not to worry, algore says you guys will be under 20 feet of water anyway so...what do you need credit for?
The worship words of the climate change community: could, possible, may, expected, anticipated, potential, and the biggest one, if.
What about the countries in the North that will benefit?
Longer growing seasons and better productive working conditions in Northern Europe, Canada, Greenland, Iceland, Siberia, Russia and others?
Global warming has winners too.
Someone gets to charge higher interest. Follow the $$.
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