RATING ACTION:
On June 15, 2022, CariCRIS reaffirmed the assigned issuer credit ratings of CariA- (Local Currency Rating) on the regional rating scale and jmAA (Local Currency Rating) on the Jamaica national scale to the bond issue of up to J $3 billion of GraceKennedy Limited (GKL or the Group). A stable outlook was maintained.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the ratings and /or outlook include:
- An improvement in CariCRIS’ sovereign credit risk rating of Jamaica
Factors that could, individually or collectively, lead to a lowering of the ratings/or outlook include:
- Decline in DSCR ratio to <1.33 times or fall in effective DSCR to below 1.5x
- Interest in Debt to EBITDA to >4.0 times
- A lowering of CariCRIS’ sovereign credit risk rating of Jamaica
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Nadia Sanchez