RATING ACTION:
On June 15, 2022, CariCRIS reaffirmed the assigned ratings of CariA- (Local Currency Rating) on the regional rating scale, and jmAA- (Local Currency Rating) and jmA+ (Foreign Currency Rating) on the Jamaica national scale of Seprod Limited (Seprod or the Group). The stable outlook was maintained.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement of the rating and/or outlook:
- An improvement in the GOJ’s credit rating over the next 12-15 months
- Sustained improvement in Group PAT by over 15% or more annually for the next 2 years
- An improvement in interest cover and effective DSCR to above 4 times and 1.5 times respectively for the next 2 years
Factors that could, individually or collectively, lead to a lowering of the rating and/or outlook:
- A deterioration in the GOJ’s credit rating over the next 12-15 months
- A fall in the Group’s interest cover and effective DSCR to below 2.5 times and 1.5 times respectively, sustained for 2 years
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Kyla Balwant