CariCRIS reaffirms ‘adequate creditworthiness’ ratings assigned to The Port Authority of Jamaica (PAJ)

March 24, 2023

Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed the assigned Issuer/Corporate credit ratings of CariBBB+ (Foreign Currency Rating) and CariA- (Local Currency Rating) on the regional rating scale, and jmAA on the Jamaica national scale to the Port Authority of Jamaica (PAJ or the Authority). These ratings include a single notch up for the likelihood of support, if needed, from the Government of Jamaica (GOJ). The regional scale foreign currency ratings indicate that the level of creditworthiness of this obligor, adjudged in relation to other obligors in the Caribbean is adequate. The national scale ratings indicate that PAJ’s creditworthiness, compared to other obligors in Jamaica, is high.