S&P affirms Barbados

Standard and Poor's said it affirmed its BBB+ long- and A-2 short-term foreign-currency sovereign credit ratings and A- long- and A-2 short-term local-currency sovereign credit ratings on Barbados.

The outlook remains stable.

The agency said the ratings on Barbados reflect improved but still-high external pressures resulting from high current account deficits (6.8% of GDP expected in 2007) and its relatively high gross debt and interest burdens.

This is balanced by Barbados' political stability and strong governance within both the public and private sectors, S&P added.

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