Opposition spokesman on finance Dr Omar Davies said Thursday that the downgrade of Jamaica’s credit rating by Standard & Poor’s, highlights “clear deficiencies” in the management of the economy.
The Government has reacted with surprise and disappointment at the decision by the international rating agency Standard and Poor’s (S&P) to further downgrade Jamaica’s credit rating from B- to CCC+.
While the country prepares for the IMF, another blow has been delivered in the form of an Independence Day (birthday) gift. Namely, Standard and Poor’s (S&P) has downgraded us to CCC+, which it indicated earlier in the year it would have done if conditions did not improve.
STANDARD & Poor’s (S&P), the reputable international rating agency, earlier this week downgraded Jamaica’s rating to CCC+ and said that the outlook on the country remains negative.