Decode the markets.

Toll-road monopoly with predictable cash flows and a reliable dividend.

Caribbean financial leader; regional scale and rate-cycle beneficiary.

Defensive cash-generator with strong pricing power and high payout yield.

Best-in-class Caribbean infra credit for USD income seekers. The 6.60% coupon at a ~9–10yr duration is compelling versus JAMAN sovereign for credit-aware buyers willing to take concession-asset risk for incremental spread. We recommend pairing with JAMAN for a balanced Jamaica-exposure book.

Core hold for any Caribbean USD income mandate. The 8.50% coupon out to 2036 captures Jamaica's continued credit-improvement story while compensating for residual sub-IG risk. This is our highest-conviction sovereign name on the recommended list — we expect the spread to UST to grind tighter as ratings progress toward investment grade over the next 2–3 years.

Top of the Caribbean sovereign yield curve in USD — 8.25% coupon at ~10yr duration is a compelling carry trade for clients who can stomach single-B sovereign volatility. Worth allocating alongside JAMAN for regional diversification; we view Jamaica's credit trajectory as more positive than Bahamas' over the medium term, but Bahamas offers a wider spread to compensate.