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Jamaica Credit Ratings & Outlooks
Country | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Ba3 Stable | BB Stable | BB- Stable | NR — | NR — |
Credit Rating History
Country | Date of Change | Rating Agency | Previous Rating | Previous Outlook | Current Rating | Current Outlook |
|---|---|---|---|---|---|---|
| Dec 19, 2025 | Moody's | B1 | Positive | Ba3 | Stable | |
| Dec 18, 2025 | S&P | BB | Positive | BB | Stable | |
| Nov 20, 2025 | Fitch | BB- | Positive | BB- | Stable | |
| Sep 25, 2025 | S&P | BB- | Positive | BB | Positive | |
| Sep 24, 2024 | S&P | BB- | Stable | BB- | Positive | |
| Mar 05, 2024 | Fitch | B+ | Positive | BB- | Positive | |
| Oct 18, 2023 | Moody's | B2 | Stable | B1 | Positive | |
| Sep 13, 2023 | S&P | B+ | Stable | BB- | Stable | |
| Mar 07, 2023 | Fitch | B+ | Stable | B+ | Positive | |
| Oct 04, 2021 | S&P | B+ | Negative | B+ | Stable | |
| Apr 16, 2020 | S&P | B+ | Stable | B+ | Negative | |
| Apr 10, 2020 | Fitch | B+ | Positive | B+ | Stable | |
| Jan 29, 2020 | Fitch | B+ | Stable | B+ | Positive | |
| Dec 11, 2019 | Moody's | B3 | Positive | B2 | Stable | |
| Sep 27, 2019 | S&P | B | Positive | B+ | Stable | |
| Jan 31, 2019 | Fitch | B | Positive | B+ | Stable | |
| Sep 25, 2018 | S&P | B | Stable | B | Positive | |
| Jul 20, 2018 | Moody's | B3 | Stable | B3 | Positive | |
| Jan 31, 2018 | Fitch | B | Stable | B | Positive | |
| Nov 21, 2016 | Moody's | Caa2 | Positive | B3 | Stable |
Table Key
| Grade | Moody's | S&P | Fitch | DBRS | Scope Ratings |
|---|---|---|---|---|---|
Prime | Aaa | AAA | AAA | AAA | AAA |
High Grade | Aa1 | AA+ | AA+ | AA (high) | AA+ |
Aa2 | AA | AA | AA | AA | |
Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade | A1 | A+ | A+ | A (high) | A+ |
A2 | A | A | A | A | |
A3 | A- | A- | A (low) | A- | |
Lower Medium Grade | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ |
Baa2 | BBB | BBB | BBB | BBB | |
Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative | Ba1 | BB+ | BB+ | BB (high) | BB+ |
Ba2 | BB | BB | BB | BB | |
Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative Grade | B1 | B+ | B+ | B (high) | B+ |
B2 | B | B | B | B | |
B3 | B- | B- | B (low) | B- | |
Substantial Risk Grade | Caa1 | CCC+ | CCC+ | CCC | |
Caa2 | CCC | CCC | CCC | CCC | |
Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative Grade | Ca | CC | CC | CC | CC |
C | CC | C | |||
In Default with Little Prospect for Recovery | CD | RD | RD | ||
In Default | SD | SD | |||
C | D | D | D | D | |
DD | DD | ||||
DDD | DDD | ||||
Not Rated | NR | NR | NR | NR | NR |
FAQ
What is Jamaica’s current credit rating?
Jamaica’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view Jamaica’s credit risk.
Has Jamaica’s credit rating changed recently?
This page lists the latest rating and outlook actions for Jamaica, showing when each agency last reviewed or changed its assessment.
Why does Jamaica’s credit rating matter to investors?
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence Jamaica's bond yields, currency, and equity flows as investors reassess risk.
How does Jamaica’s rating compare to other countries?
You can explore how Jamaica ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
What do outlooks like Positive, Stable, and Negative mean?
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
What is the difference between investment grade and speculative grade?
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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