Curaçao's stable, democratic political system within the Kingdom of the Netherlands, its net general government asset position, and its strong external balance sheet anchor our sovereign credit rating. On the other hand, poor economic growth performance and monetary inflexibility constrain the ratings. We are affirming our 'A-/A-2' long- and short-term foreign and local currency sovereign credit ratings on Curaçao. The stable outlook incorporates our expectation of continuity in economic policies, strong institutional checks and balances, and continued fiscal consolidation over the next two to three years. On March 22, 2017, S&P Global Ratings affirmed its 'A-/A-2' long- and short-term foreign and local currency sovereign credit ratings on Curaçao. The outlook on the long-term rating remains stable. In addition, the transfer
