Moody’s upgrades Jamaica

Moody’s upgrades Jamaica

Caribbean Jamaica Corporate & Sovereign Strategy

Moody’s has upgraded Jamaica's credit rating to B3 from Caa2 and changed the Caribbean sovereign’s outlook to stable from positive. The rating agency said it improved the rating after Jamaica showed a "strong commitment" to reforms to reduce its debt burden and because the country had applied a "significant and sustained" fiscal consolidation. Jamaica’s improved current account balance and higher cash reserves also contributed to the two-notch upgrade, Moody’s said. Moody’s added that Jamaica's

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