News

Fitch Upgrades Jamaica's Ratings To 'B-', Outlook Stable

February 16, 2010

Fitch Ratings today upgraded Jamaica's long-term foreign and local currency ratings to 'B-'. The Rating Outlook is Stable. Fitch has also upgraded the short-term foreign currency rating to 'B' and the country ceiling rating to 'B'."While the fiscal consolidation embedded in the International Monetary Fund (IMF) programme is encouraging, Fitch notes that meeting the program targets will still remain challenging, especially as public finances remain vulnerable to external and weather-related shocks. Moreover, revenue under-performance cannot be ruled out given the weak state of the economy". Complete Story »

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