International rating agency Moody's Investors Service has affirmed Jamaica's B3 long-term issuer rating and changed the outlook to positive from stable.
Jamaica's senior unsecured ratings were also affirmed at B3.
Moody's says the key drivers for the outlook change to positive include ongoing fiscal consolidation, adding that if this is sustained it will support the continued reduction in Jamaica's debt burden
The ratings agency says the affirmation of the B3 rating captures the authorities' commitment to continued fiscal consolidation, implementation of structural reforms, progress in lowering government debt ratios, and reduced external vulnerabilities.
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