RATING ACTION:
On September 14, 2023, CariCRIS upgraded the assigned Issuer/Corporate Credit Ratings by 1-notch to CariA (Local Currency Rating) and CariA- (Foreign Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale ratings of jmAA- (Local Currency Rating) and jmA+ (Foreign Currency Rating) to Supreme Ventures Limited (SVL or the Group). A stable outlook was assigned.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement of the rating and/or outlook:
- Improvement in the Government of Jamaica’s credit rating, leading to an improved overall credit risk profile
- An increase in earnings from its Guyana operations to more than 15% of SVL’s annual profits
- Revenue increases by more than 12% sustained for the next 12-18 months
Factors that could, individually or collectively, lead to a lowering of the rating and/or outlook:
- A deterioration in the Government of Jamaica’s credit rating over the next 12-15 months
- A deterioration of SVL’s revenue by more than 15%
- Interest Cover and/or DSCR below 1.5 times and 3.25 times respectively
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Kyla Balwant
Disclaimer: CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published / reproduced in any form without CariCRIS’ prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this product.