International ratings agency, Fitch has revised Jamaica’s long-term foreign and local currency issuer default ratings outlook from stable to positive.

Fitch has also affirmed the issuer default ratings at B plus.

In its report issued yesterday, Fitch said the revision of the outlook reflects Jamaica’s significant progress with debt reduction, despite the covid pandemic shock and other factors.

It said Jamaica’s ‘B Plus’ rating is also supported by World Bank governance indicators that are substantially stronger than the ‘B’ median.

However, the ratings remain constrained by issues such as a high crime rate and low productivity.