Moody's Boosts Jamaica's Credit Rating Citing Stronger Institutions, Policies

Dow Jones12-20

By Elias Schisgall

Moody's raised Jamaica's sovereign debt rating and its outlook due to a strengthening of institutional and fiscal policy frameworks that have led to improvements in the country's finances.

The credit ratings agency on Friday raised the Caribbean nation's debt rating one level to Ba3 from B1, and lifted its outlook to positive from stable.

"Successive administrations have adhered to fiscal rules, maintained sizeable primary surpluses, and reduced government debt by nearly 40 percentage points of GDP since 2020, outperforming peers," Moody's said. "These improvements, alongside reforms that bolster financial sector oversight and disaster risk management, support our view that the temporary fiscal deterioration caused by Hurricane Melissa will not derail Jamaica's medium-term trajectory of debt reduction and policy stability."

While the nation's debt level is expected to increase following Hurricane Melissa, Moody's said it expects Jamaica will continue to pay down its debt in the long-term.

Jamaica sustained $8.8 billion in damages from the Hurricane Melissa, Moody's said, citing an estimate from the World Bank. Moody's expects the country's debt will continue to decline, even though it is forecasting an almost 2% contraction in real gross domestic product this year, and zero growth in 2026.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

December 19, 2025 17:16 ET (22:16 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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