Tweet
<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> Confirmed : Standard and Poor ' s ...ing ( RJR )...</span>
Ratings agency Standard and Poor's has threatened to downgrade Jamaica's credit rating if it does not see an economic plan coming forward. The ratings agency made the threat even as it maintained Jamaica's stable credit outlook.The details were contained in the ratings agency's latest assessment of Jamaica which was released on Wednesday.Standard and Poor's affirmed its B rating for Jamaica but amidst that, the rating agency sounded a threat that it could downgrade Jamaica if it does not see a plan for economic growth. The entity said while its current rating and outlook reflect the "modestly improved fiscal position", it was concerned about "the slow pace of economic recovery." So far this year, the Jamaican economy is expected to contract by about 1% and while growth is expected to return shortly, the ratings agency said it is not expected to go above 1% or 2% in the next three years.
<span style="font-weight: bold"> Confirmed : Standard and Poor ' s ...ing ( RJR )...</span>
Ratings agency Standard and Poor's has threatened to downgrade Jamaica's credit rating if it does not see an economic plan coming forward. The ratings agency made the threat even as it maintained Jamaica's stable credit outlook.The details were contained in the ratings agency's latest assessment of Jamaica which was released on Wednesday.Standard and Poor's affirmed its B rating for Jamaica but amidst that, the rating agency sounded a threat that it could downgrade Jamaica if it does not see a plan for economic growth. The entity said while its current rating and outlook reflect the "modestly improved fiscal position", it was concerned about "the slow pace of economic recovery." So far this year, the Jamaican economy is expected to contract by about 1% and while growth is expected to return shortly, the ratings agency said it is not expected to go above 1% or 2% in the next three years.