S&P downgrades Jamaica

Standard & Poor's said it lowered its foreign and local currency sovereign credit ratings on Jamaica to SD from B-/B.

At the same time, S&P lowered its ratings on the bonds that are included in the sovereign's proposed domestic debt exchange to D. The agency lowered the ratings on the government securities not included in the debt exchange to CCC.

S&P said these actions follow the government's Feb. 11 announcement of the domestic debt exchange and its official launch on Feb. 12.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.