Barbados faces mounting external pressures associated with a widening current account deficit, external financing challenges, and a high fiscal deficit largely because of a decline in government revenues as a result of the weak economy. We expect Barbados' net general government debt burden to rise to above 70% of GDP in fiscal 2013 from 67% in fiscal 2012 and 60% in fiscal 2011 as a result of large fiscal deficits. We are lowering our long-term rating on Barbados to 'BB-' from 'BB+'. The negative outlook indicates a better than one-in-three chance of a downgrade if investment and growth prospects fail to strengthen and external and fiscal pressures continue to complicate financing. On Nov. 20, 2013, Standard&Poor's Ratings Services
