Following the downgrade to CCC+/C in March 2017, the ratings agency had suggested that it would revise its outlook if positive results were seen.

However, after the Government’s presentation of the budget in May,  S&P announced that it would maintain its position on the current rating of Barbados.

S&P highlighted the same concerns it had back in March, specifically: dwindling foreign exchange reserves, high fiscal deficit, and limited access to private sector funding in the local market as well as declining prospects for external funding.

Another review is due within the next nine months.

Link: https://www.barbadostoday.bb/2017/06/27/sp-maintains-its-position-in-light-of-recent-budget/