Jamaica Finishes NDX with CCC

Jamaica Finishes NDX with CCC

Jamaica Corporate & Sovereign Strategy

Fitch has raised Jamaica’s ratings to CCC from RD, it says, citing a participation level above 98% at last week’s final close of the National Debt Exchange (NDX). Jamaica had been pushing for as close to 100% participation as possible, seen as critical to the government’s negotiations for a new standby facility with the IMF. “Fitch considers that the National Debt Exchange (NDX) has been materially completed and the default event cured in line with Fitch's distressed debt exchange criteria,” it

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