Moody's Investors Services downgrades Barbados credit rating

Barbados Prime Minister Freundel Stuart

Moody's Investors Services has downgraded Barbados’ credit rating to Ba1 from Baa3 citing the country's lukewarm economy and rising government debt levels.

Standard and Poor’s lowered Barbados’ rating to junk in July to BB+.

The economy of Barbados grew by 0.6 percent in 2011 and 0.2 through September of this year, well below expectations, according to the New York-based ratings firm. The United Nations Economic Commission for Latin

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