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S&P upgrades Jamaica's rating to B
Predicts 2.0% growth for 2015
BY STEVEN JACKSON Business reporter jacksons@jamaicaobserver.com
Friday, June 05, 2015
US-based Standard & Poor's Ratings Services gave the country a nod on Wednesday when it raised its long-term foreign and local currency sovereign credit ratings on Jamaica to B from B-.
At the same time, S&P also affirmed the B short-term ratings on Jamaica; it raised the transfer and convertibility assessment to B+ from B; and it affirmed a stable outlook on the long-term ratings.
S&P became the latest rating agency to upgrade the island following Moody's upgrade last week."We raised the long-term rating on Jamaica to reflect the country's ability to meet its fiscal targets over the past two years, which has led to strengthened fiscal credibility and stabilised its debt trajectory," stated S&P in a release.
