October 25, 2010
S&P has cut the ratings of Barbados to BBB minus from BBB. The ratings agen
S&P has cut the ratings of Barbados to BBB minus from BBB. The ratings agency believes the sovereign's debt burden will increase in the next 2 years because of delays in the government's fiscal-consolidation efforts and a slower-than-expected economic recovery. S&P says that although the refinancing risk remains low, the high and increasing level of debt is straining fiscal accounts and, if not addressed, could lead to a loss of investor confidence. The outlook is stable.