Good to see you again. Glad you enjoy the Limes.A not unexpected move from Standard & Poor’s, which has been deeply negative on Jamaica for some time now. Rival rating agency Fitch issued a similar downgrade, cutting the island’s local currency rating to ‘C’ from ‘CCC” on Thursday. It’s not all bad news though – [...]
Verbatim from rating agency Moody’s on Jamaica, highlighting mine: The IMF, which has been negotiating the terms of a $1.2 billion stand-by facility with Jamaica for several months, said on Friday after fund officials spent several days in Kingston, that discussions would continue in Washington next week. The focus, said the IMF, is “on how [...]
Hot on the heels of the decision by Standard & Poor’s to slash Jamaica’s sovereign rating comes this announcement from the rating agency: S&P: National Commercial Bank Jamaica Counterparty Credit Rating Lowered To ‘CCC’; Survivability Assessment Lowered To ‘B’ * On Nov. 2, 2009, we lowered the long-term sovereign rating on Jamaica to ‘CCC’ from [...]
Can’t say you weren’t warned, but this is still a serious blow to Jamaica. From rating agency Standard & Poor’s on Monday, highlighting mine: Jamaica Long-Term Ratings Lowered One Notch To ‘CCC’, Outlook Negative – Jamaica’s Central bank governor, who was the lead negotiator on a possible standby facility from the IMF, has resigned. – [...]
Just one month after rating agency Standard & Poor’s released a downbeat assessment of the outlook for Jamaica comes an equally – if not more – negative take from Barclays Capital Research. The research note issued today by a New York-based BarCap analyst is unequivocal: we believe that Jamaica is approaching the point of no [...]