Jamaica Slides to Fitch CCC

Jamaica Slides to Fitch CCC

Caribbean

Fitch has joined other agencies in downgrading Jamaica to CCC with a negative outlook from B to reflect increased macroeconomic pressures and a sharp fiscal deterioration, which has resulted in unsustainable debt dynamics and heightened the risk of some form of restructuring. “While the government's willingness to service its massive debt burden has traditionally been high, its capacity to do so is being seriously jeopardized by the magnitude of the macroeconomic and fiscal shocks the country fa

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