S&P and Fitch downgrade Jamaica on debt exchange

[Skeng DX]

why yuh a guh roun mi question...question crackhead...was the original contract altered?

[Bricktop]

mi nuh question already school answer tuition already your...dummy

[Skeng DX]

was the original contract altered?...

[1of1]

:d:d:d:d

[Willi]

Did you READ his post?

Do so again and it will sink in.

[Willi]

So if I have a 5 year debt with you for $1m at 10% and after a year, I unilaterally repay you your million plus the $100K, what mi owe yuh? LoL

[Skeng DX]

what happen in the opposite case where u agree to pay it over 10 years...instead of 5?

[Willi]

Answer my riggle fuss.

[Plush]

Skeng D it look like u caan manage dem...did the contract contains prepayment clause or other chnage provision...Rating agencies will almost always downgrade you if you fail to pay back what you are contractually obligated to...even if you negotiate new terms with bondholders, once teh terms are less favourable you will be downgraded....and now these agencies are much more stricter giving the political and regulatory climate...we see now where agencies are being sued because they didn't downgrade securities timely..tough environment

[Assasin]

the problem is he said it is an automatic downgrade and it is not but all had to do is accept that and they it nearly always mean a downgrade but not even that Skengy can accept.

[1of1]

a babylon dem name, dem do as dem please, only ting automatic is when dem do so

[Willi]

exactly!

[Willi]

For skengy

S&P rating agency upgrades Jamaica







Published: Thursday February 25, 2010 | 12:56 pm0 Comments



International ratings agency Standard & Poor's has raised its sovereign foreign currency debt rating on Jamaica to B-minus from selective default with a stable outlook.

The latest upgrade follows the success of the government’s debt exchange programme.

It also comes just over a week after another rating agency, Fitch upgraded the country’s long-term local and foreign currency Issuer Default Ratings (IDR) to B minus.

Earlier this week, the finance minister, Audley Shaw reported a 99 per cent participation by bondholders.

Under the Jamaica Debt Exchange Programme, the government offered to exchange all of its domestic debt of approximately $700 billion, for longer-dated, lower-yielding securities as part of a plan to shore up the economy.

In a statement issued yesterday, Standard and Poors said future sovereign rating actions will depend on its view of the government's ability to benefit from interest cost savings and smoother debt amortization.

Multilateral assistance to address the country’s many fiscal rigidities and inefficiencies and efforts to decrease its high debt burden will also determine future ratings by S&P.

The ratings agency says it believes Jamaica's fiscal performance may improve this year as the government tries to implement a series of fiscal reforms in line with the conditions established by the International Monetary Fund's (IMF) loan agreement earlier this month.

The firm also says it still expects the pace of recovery in the real economy to be slow, with gross domestic product forecast to grow 0.5 per cent this year versus a contraction of 3.5 per cent last year.

In addition to the IMF loan agreement, on Tuesday the World Bank approved a US$200 million loan to help Jamaica's fiscal and debt reforms.

[Skeng DX]

its hard hard to deal with a crack head and a person trying to balance...while reasoning with emotions

[Skeng DX]

your riggle is not analogues to the jdx/ndx...nex