Foreign Currency: BBB+/Stable/A-2 Local Currency: BBB+/Stable/A-2 For further details see Ratings List. Increased uncertainty about "La Isla" refinery's future has lowered our expectations for Curacao's economic growth and fiscal performance in the coming years. As a result, we are lowering our long-term foreign and local currency ratings on Curacao to 'BBB+' from 'A-' and affirming our short-term foreign and local currency ratings at 'A-2'. We are also revising down our transfer and convertibility assessment to 'BBB+' from 'A-'. Our ratings on Curacao continue to reflect its strong links to the Netherlands, a relatively strong external position, and the government's strong net external asset position (because of pension fund assets). The outlook is stable. On Feb. 18, 2019, S&P Global Ratings
