(Caricom News Network) CASTRIES—Persistent and severe deterioration in the government’s fiscal position and a resultant steady increase in debt stock are among reasons which the Caribbean Information and Credit Rating Services Ltd (CariCRIS) has cited for its decision to downgrade St Lucia’s credit ratings. CariCRIS is a regional credit rating agency, with a market-driven initiative aimed at fostering and supporting the development of regional debt markets.

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