Fri Dec 20, 2013 6:04pm EST
Dec 20 (Reuters) - Moody's Investors Service on Friday downgraded Barbados' government bond rating to Ba3 from Ba1, putting the Caribbean nation's rating deeper into junk territory, citing anemic economic growth and gaping fiscal deficits.
The credit ratings agency noted the rising cost of funding for Barbados and its increased reliance on short-term funding. Foreign exchange reserves have also sharply decreased, Moody's said in a statement.
Moody's also said the country's credit outlook remained negative.
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