Melissa could strike Jamaica as a Category 5
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Melissa is undergoing extreme rapid intensification and is a Category 4 hurricane with 140 mph winds Sunday morning. The US National Hurricane Center expects it to strengthen into a rare Category 5 hurricane tonight.
Jamaica's $150 million IBRD CAR Jamaica 2024 parametric World Bank catastrophe bond has been marked down on secondary pricing sheets and this morning the
Hurricane Melissa went through rapid intensification on Saturday, jumping from a Category 2 to a Category 4 by early Sunday morning, the National Hurricane Center said.
Tropical Storm Melissa was moving slowly through the Caribbean Sea early Thursday, said forecasters warning of "life-threatening flooding," and landslides.
According to the hurricane center, Melissa has a significant possibility of making landfall on Jamaica as a major hurricane and could maintain major hurricane strength when it reaches eastern Cuba. Forecasters say Melissa poses little to no risk for Florida and the U.S. at this time.
Tropical Storm Melissa is expected to strengthen into a hurricane, threatening the northern Caribbean with massive rainfall and life-threatening flooding