S&P affirms Aruba

Standard & Poor's said it affirmed its A-/A-2 sovereign credit rating on Aruba, and the A- transfer and convertibility assessment is unchanged.

The outlook remains stable.

The affirmation reflects S&P's expectation that economic recovery and steps the government has taken to address shortfalls in the health-care system and public-sector pension system will contain and stabilize the recent rise in the government's debt burden.

The agency said Aruba's prosperous economy, stable democracy and high level of social development support its creditworthiness.

Constraining the ratings are Aruba's narrow economic base, limited monetary and external flexibility and sizeable government debt burden, S&P said.

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