NEW YORK (Standard&Poor's) Dec. 6, 2013--Standard&Poor's Ratings Services today said it assigned its 'AA-' local currency rating on the government of Bermuda's proposed Bermudian dollar (BD$) 50 million long-term 10-year senior unsecured notes. The ratings on Bermuda are supported by our view of the country's ongoing achievements in attracting and retaining foreign financial services companies (largely reinsurance), which underpin high per capita income and, until recently, strong economic growth; its large net external asset position; and the government's net fiscal asset position, though it has declined with growing deficits. Constraining the ratings are Bermuda's lack of monetary flexibility and continued gaps in official data, despite some progress. With growing evidence of a more-than-cyclical economic downturn, we
