Moody's: National Road debt B3

Moody's Investors Service said it assigned a long-term rating of B3 to the debt issuance of Jamaica's National Road Operating and Constructing Co. Ltd.

The agency said the rated debt benefits from a full guarantee by the government of Jamaica.

Because Moody's considers the commitment of the Jamaican government to back the issuer's obligations to be no lower than its commitment to service its own bonds, the agency said the debt is ranked pari passu with other senior, unsecured debt issuances of the government of Jamaica.

The outlook is stable, in line with the issuer rating of the government.

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