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S&P revises Curacao outlook to negative; affirms A-minus rating
November 15, 2012 / 11:02 PM / 5 years ago

S&P revises Curacao outlook to negative; affirms A-minus rating

NEW YORK, Nov 15 (Reuters) - Rating agency Standard & Poor’s revised Curacao’s outlook to negative from stable on Thursday and affirmed its A-minus rating, citing worries about eroding public health and pension systems.

“The deterioration in the balances of the government of Curacao’s national pension fund as well as the health care fund has weakened the government’s underlying fiscal stance,” S&P said in a statement.

“The negative outlook reflects our view that a failure to reverse the recent fiscal deterioration in a timely manner might lead to a downgrade,” the rating agency said.

Reporting By Daniel Bases and Caryn Trokie; Writing by Luciana Lopez; Editing by M.D. Golan

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