The Jamaica Chamber of Commerce is welcoming news of the historic upgrade of the country’s long term financial outlook by internationally acclaimed credit ratings firm, Standards And Poor’s, S&P.

S&P upgraded Jamaica from B+ to BB- with a stable outlook.

A credit rating is one of the most important indicators of financial health and determines the extent to which a country is worth trusting to pay back debts to a lender.

The president of the JCC, Michael McMorris, says the move by S&P is a significant milestone in Jamaica’s journey to economic sustainability.

Mr. McMorris says both the business community and the government will be able to leverage the upgrade to advance economic growth.

Michael McMorris, President of the Jamaica Chamber of Commerce. He was speaking with Nationwide News Friday afternoon.