Fitch upgrades Jamaica’s currency ratings
Fitch Ratings today upgraded Jamaica’s long term foreign currency and local currency Issuer Default Ratings (IDR) to B minus from CCC.
The ratings agency also raised the short-term foreign currency rating from C to B and the Country Ceiling from B minus to B.
In a release today, the Ministry of Finance and Planning said the outlook was also upgraded to Stable.
The ministry said Fitch indicated that the ratings were supported by reduced financing risks due to fiscal consolidation and the lengthening of domestic debt repayments.
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