On Aug. 17, 2007, Standard and Poor's Ratings Services affirmed its 'BBB+' long- and 'A-2' short-term foreign and its 'A-' long- and 'A-2' short-term local currency sovereign credit ratings on Barbados. The outlook remains stable. The ratings are supported by: Political stability and strong governance, reflecting mature political, legal, and economic institutions; Monetary stability, supported by a long-standing, fixed-exchange-rate regime; and Strong human development indicators, reflecting high per-capita income and good education and health systems. The ratings are constrained by: Limited fiscal flexibility, due to a relatively high general government debt level and a resulting high interest debt burden; and A small, open economy, with few growth prospects outside the tourism sector, and high current account deficits, which leave Barbados
