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Jamaica's ratings upgraded by Fitch

Ratings Agency Fitch on Thursday upgraded Jamaica's long-term foreign-currency issuer and local currency issuer default rating to 'B+' from 'B'.
 
The rating agency also revised its outlook to "Stable" from "Positive".
 
Additionally, Fitch upgraded the country ceiling to 'BB-' 'from 'B'.
 
This is Jamaica's highest rating in over ten years.
 
In a statement, Fitch said the upgrade reflects a track record of large primary surpluses that have cut general government debt/Gross Domestic Product (GDP) significantly.


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