February 14, 2013 / 10:46 PM / in 5 years

Moody's puts Jamaica's sovereign rating on review to cut

NEW YORK, Feb 14 (Reuters) - Moody’s Investors Service on Thursday put Jamaica’s sovereign rating on review for downgrade on a domestic debt exchange program that has already seen the country cut by two other major rating agencies this week.

Moody’s said it was placing Jamaica’s B3 on review “as a result of the authorities’ announcement that the government will pursue a debt restructuring involving a debt exchange that will affect US $9.1 million in domestic debt...” the agency said in a statement.

Rating agencies Fitch and Standard & Poor’s on Tuesday cut Jamaica’s ratings on the debt exchange program.

S&P cut Jamaica’s rating to SD, or selective default. Fitch cut the country to C.

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