• WestStar TV Customers

    A power failure at Television Centre caused outages for WestStar cable customers today (Wednesday, 16 May). WestStar's headend is located in the main plant at Television Centre which lost both it's main power and back-up power around 11:30 a.m. Engineers worked alongside Corporate Electric to get services back up as quickly as possible once power was restored. The outage also caused WestStar to lose internet and phone service for a short period this afternoon. All services were restored by around 1:30 p.m.

U.S. downgrade may impact Cayman

Posted By Kevin Watler
Monday, 8 August 2011 6:00 pm

Stocks in the United States tumbled today spreading fears that an already bad economic situation is about to get worse.

International ratings agency Standard and Poor’s (S&P) downgraded the U.S. credit status from the coveted triple a status.

In the Cayman Islands, those in the financial industry are keeping a close eye on the situation –monitoring any possible fallout.

“The markets are down again.  Our currency is very much aligned with the US dollar. We have the Cayman Islands Dollar, but it is pegged on a fixed exchange rate to the US dollar. So, whatever happens with the US dollar inevitably has an impact here in Cayman,” Cayman Finance Chairman, Richard Coles, said.

But there’s no need to panic.  The Cayman Finance chairman also explains why the government is already heading down the right path to lessen the impact of any fallout in the U.S. economy.

Cayman 27’s Ben Meade reports.

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