This report supplements our research update "Curacao 'A-/A-2' Ratings Affirmed; Outlook Remains Stable," published on March 13, 2014. To provide the most current information, we may cite more recent data than that stated in the previous publication. These differences have been determined not to be sufficiently significant to affect the rating and our main conclusions. The ratings on Curaçao reflect its stable democratic parliamentary system and rule of law in the Kingdom of the Netherlands, its prosperous economy, high level of social development, and strong government balance sheet. The country's low per capita GDP growth and limited monetary and external flexibility constrain the ratings. Curaçao's per capita GDP is likely to exceed US$23,000 in 2014 despite anemic growth over the
