September 27, 2017 / 6:06 PM / a year ago

BRIEF-S&P lowers Barbados' long-term local currency sovereign rating to 'CCC' from 'CCC+'

Sept 27 (Reuters) - S&P on Barbados -

* Barbados long-term local currency rating lowered to ‘CCC’; ‘CCC+’ foreign currency rating affirmed; outlook negative

* S&P says Barbados’ policy challenges include high general government debt, deficits, debt servicing requirements, limited appetite for private-sector financing‍​

* S&P- lowered its long-term local currency sovereign credit rating on barbados to ‘CCC’ from ‘CCC+’

* S&P says Barbados’ policy challenges also include low level of international reserves raising risk to sustainability of the peg to the U.S. Dollar

* S&P on Barbados- negative outlook reflects risk of downgrade given difficulty turning around fiscal policy Source

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