Ratings agency Caribbean Information and Credit Rating Services (CariCRIS), says Jamaica Public Service Company (JPS) is expected to maintain overall operational and financial stability over the next 12 to 15 months.
As a result, the regional agency has maintained JPS's stable outlook and reaffirmed its ratings.
JPS's local currency rating remains at CariA while its foreign currency rating is unchanged at CariA+ on the regional scale.
CariCRIS has also reaffirmed Jamaica's local currency rating to jmAA+ with a stable outlook.
However, the ratings agency has flagged the limited duration of JPS licence as a major constraint on the company's ability to secure long-term financing.
CariCRIS says this has affected JPS's capacity to rehabilitate critical infrastructure and lock in long-term power supply contracts.
As a result, JPS has deferred some infrastructure projects and scaled back its smart grid expansion programme to about US$1.7 billion down from the originally planned US$2.7 billion.
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