Fitch affirms Aruba

Fitch Ratings said it affirmed Aruba's foreign- and local-currency issuer default ratings at BBB, short-term issuer default rating at F3 and country ceiling at A-.

The outlook is stable.

The affirmation and stable outlook balance Aruba's recent fiscal deterioration and the 2009 severe economic recession against the expected rebound in economic activity and the government's pro-active stance in dealing with some of the structural fiscal weaknesses, Fitch said.

The ratings are supported by the country's relatively high per capita income of over $20,000, its institutional strengths and its continued political and social stability, the agency said.

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