Fitch Negative on Aruba

Fitch Negative on Aruba

Caribbean Corporate & Sovereign Strategy

Fitch has revised the outlook on Aruba’s BBB rating to negative from stable, it says. The adjustment is based on continued growth underperformance, large fiscal imbalances, rising government debt and increased economic vulnerability after the halt of fuel exports by the Valero refinery, the agency says. “There is uncertainty related to the scope and pace of the fiscal consolidation process, especially given high budgetary rigidities and moderate economic growth prospects,” Fitch adds. Aruba’s re

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