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

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.

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