Mon | Oct 23, 2017

Standard and Poor's upgrades Jamaica's credit rating

Published:Wednesday | June 3, 2015 | 6:37 PM
Phillips ... the upgrade is tangible evidence of the progress the government has made in managing the economy and reducing Jamaica's debt.

Ratings agency Standard & Poor’s has upgraded Jamaica’s long-term credit rating from B minus to B with a stable outlook.

The agency has also maintained Jamaica's short term rating at B.

The new rating cited Jamaica’s adherence to its fiscal programme in the past two years and was reportedly underpinned by expectations that the country would stay the course on its economic reform agenda.

In a statement this afternoon, Minister of Finance, Dr Peter Phillips, said the upgrade is tangible evidence of the progress the government has made in managing the economy and reducing Jamaica's debt.

Phillips added that the sacrifices made by many Jamaicans have laid the foundation for growth and development of the economy.