Fitch Downgrades Jamaica’s Local Currency Ratings to ‘C’

Jamaica Observer: “Fitch Downgrades Jamaica’s Local Currency Ratings to ‘C'”

Fitch Ratings yesterday downgraded Jamaica’s long-term local currency rating to ‘C’ from ‘CCC’. In addition, Fitch has affirmed Jamaica’s long-term and short-term foreign currency ratings at ‘CCC’ and ‘C’ respectively, and affirmed the Country Ceiling at ‘B-‘. Jamaica’s sovereign ratings Outlook remains Negative.

Jamaica Observer: “Jamaica debt exchange could spur the economy”

THE recently announced Jamaica debt exchange offer which sees 350 instruments reduced to just 24 offering an interest rate of 12.25 per cent may — albeit inadvertently — help to spur the Jamaican economy into greater productivity, innovation and entrepreneurship.