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Fitch upgrades Jamaica
Thursday, February 11, 2016 | 1:49 PM
KINGSTON, Jamaica – Fitch Ratings Agency today upgraded Jamaica’s Long-term foreign and local currency issue ratings to ‘B’ from ‘B-‘ and revised the outlook to Stable from Positive. The issue ratings on Jamaica’s senior unsecured Foreign- and Local-Currency bonds were also upgraded to ‘B’.
The ratings upgrade is predicated on a number of factors including the Government’s continued commitment to fiscal consolidation and macroeconomic stability.
The Government’s adherence to the fiscal primary surplus targets agreed under the International Monetary Fund programme and the successful conclusion of ten quarterly reviews by the Fund along with the continued improvement in external finances, buoyed by lower oil prices, have augered well three year’s into the country’s Economic Reform Programme.
