Jamaica’s B/B ratings have been affirmed according to a new release from S&P’s Global Ratings Credit Research Paper

The Research paper notes the following:
“On Sept. 25, 2018, S&P Global Ratings revised its outlook on Jamaica to positive from stable. At the same time, S&P Global Ratings affirmed its ‘B’ long- and short-term foreign and local currency sovereign credit ratings, and its ‘B+’ transfer and convertibility assessment on the country.

• After many years of economic, fiscal, and monetary reforms, Jamaica has made material progress in achieving macroeconomic stability and improvement in its external debt burden.

• Accordingly, we are revising our outlook on Jamaica to positive from stable, and affirming our ‘B’ long- and short-term sovereign credit ratings on the country.

• The positive outlook reflects the at least one-in-three likelihood of an upgrade if, in the next 12 months, Jamaica further strengthens its external liquidity position, while maintaining tight fiscal policy, high primary surpluses, and modestly positive real GDP growth.

The combination of modest GDP growth and better external liquidity, as reflected in an improvement in gross external financing needs to less than 100% of current account receipts (CAR) plus usable reserves could boost the sovereign’s credit rating. We expect that the government will continue to meet strict fiscal targets, and maintain its commitment to a gradual reduction in its debt and interest burdens. We also expect that the government will continue advancing toward a more effective monetary policy framework for the central bank, including a more flexible exchange rate.”

For a break down on the credit rating, view the document at the source below.

Source: SPCreditResearch_Research Update_2104958_09_25_2018_20_09_43

Leave a comment

Visit Our Offices

Kingston - Head Office
26 Belmont Road, Kgn. 5, Jamaica W.I.
Tel: +1 876 908 3800 1
Fax: +1 876 754 3802
Unit 5B Cobblestone Professional Centre, 1A Brumalia Road, Mandeville, Jamaica, W.I.
Tel: +1 876 625 0845 6
Fax: +1 876 625 0716
Montego Bay
Unit 11 Suite B, Fairview II Shopping Centre
Tel: +1 876 908 3800 2
Fax: +1 876 684 9804

PROVEN Wealth Limited (PWL) is one of the Caribbean’s premier wealth management companies, managing billions of dollars of assets on behalf of our institutional and individual clients. As a wholly-owned subsidiary of PROVEN Investments Limited, the Company is built on a strong capital base and track record of success.

PROVEN Wealth Limited is licenced and regulated by the Financial Services Commission (FSC) as a Securities Dealer; by the Bank of Jamaica (BOJ) as a Cambio and holds a broker/dealer license from the Jamaica Stock Exchange (JSE).

Copyright 2018. All rights reserved. PROVEN WEALTH Limited.