has today placed the Government of St. Maarten’s Baa3 issuer ratings on review for downgrade.The key driver for the review for downgrade is the decision by the Netherlands, the sole funding source for Sint Maarten’s government, to withhold certain liquidity payments which in turn resulted in payment delays on bilateral loans owed to the Dutch Treasury. The Netherland’s decision to temporarily deny liquidity support resulted from an ongoing political disagreement between the two governments on the pace of domestic policy reform in Sint Maarten. The delays in providing liquidity support also highlighted Sint Maarten’s limited funding options and amplified the challenges posed by Sint Maarten’s growing funding requirements.The review will allow Moody’s to assess the impact of reduced timely fiscal support from the