The difficult global economic environment continues to challenge Barbados's economic and fiscal performance. However, the Barbadian government has proposed a medium-term framework for achieving a sustainable improvement in its fiscal accounts. As a result, we have affirmed the 'BBB/A-3' foreign-currency and 'BBB+/A-2' local-currency sovereign credit ratings on Barbados. The outlook remains negative because although Barbados will likely avoid economic contraction this year, economic recovery and fiscal consolidation will take longer than previously expected and are subject to many implementation and external risks. NEW YORK (Standard&Poor's) April 28, 2010--Standard&Poor's Ratings Services said today that it affirmed its 'BBB/A-3' foreign-currency and 'BBB+/A-2' local-currency sovereign credit ratings on Barbados. Standard&Poor's also said that the transfer and convertibility
