NEW YORK (Standard & Poor's CreditWire) December 17, 1999--Standard & Poor's today assigned initial sovereign credit ratings to Barbados. Standard & Poor's assigned a single-'A'-minus long-term and 'A-2" short-term foreign currency sovereign credit ratings and double-'A'-minus long-term and 'A-1'-plus short-term local currency sovereign credit ratings. The outlook on the long-term ratings is stable. The higher local currency ratings reflect the sovereign's powers of taxation and control over the financial system, in addition to Barbados' record of low inflation and its developed domestic capital markets. Barbados' ratings reflect: -- Its tradition of prudent economic management, which has contributed to 7 consecutive years of economic growth and resulted in a per capita GDP approaching US$10,000. The country's high educational and health standards
