RATING ACTION:
On December 5, 2024, CariCRIS reaffirmed the assigned corporate credit rating of CariA (Foreign Currency Rating) and CariA+ (Local Currency Rating) on the regional rating scale, and jmAA+ on the Jamaica national scale to Jamaica Public Service Company Limited (JPS or the Company). A stable outlook was assigned.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the ratings and/or Outlook include:
- An improvement in the credit rating of the Government of Jamaica over the next 12 – 15 months
- Continued improvement in the economic conditions in Jamaica over the next year, thereby leading to increased demand for energy
- Improved operating efficiency, with availability, heat rate, system losses and SAIDI metrics consistently meeting targets over the next 2 years.
Factors that could, individually or collectively, lead to a lowering in the ratings and/or Outlook include:
- A deterioration in the credit rating of the Government of Jamaica over the next 12 – 15 months
- Failure to satisfy any existing debt covenants
- At least 2 consecutive years of declining operating profit by 16% or more.
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
[email protected]
Kyla Balwant
[email protected]
www.caricris.com
[email protected]
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.