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���������ֳ� affirmed TransJamaican Highway (TJH) at 'BB', with a Positive Outlook. The rating reflects the stability and resiliency of a commuting asset strategically located on the outskirts of Kingston, Jamaica's capital city. The rating is also supported by a satisfactory rate-setting mechanism, which allows tariffs to be adjusted annually by U.S. inflation and the variations in foreign exchange (FX) rate between the Jamaican dollar (JMD) and the U.S. dollar (USD). The debt is USD denominated, senior secured, and has typical project finance features that include limitations on additional indebtedness. The rating case minimum and average debt service coverage ratio (DSCR) are at 2.0x in 2035 and 2.4x, respectively, which are considered strong for the rating category according to applicable criteria. The transaction presents robust break-even values for its most important variables and does not depend on traffic growth in order to repay the rated debt. Furthermore, even though the credit profile withstands domestic economic shocks beyond those observed between 2008 to 2014 when the Jamaican economy deeply deteriorated, the transaction is ultimately capped at Jamaica's Country Ceiling of 'BB' due to transfer and convertibility risk. TJH's Positive Outlook mirrors the Positive Outlook of Jamaica's 'BB-', as a reflection of the potential for reduced concerns of higher risk of controls on convertibility and the transfer of foreign currency to serve the USD-denominated debt.