RATING ACTION:
On June 13, 2025, CariCRIS reaffirmed the assigned issuer/corporate credit ratings of CariA+ (Foreign and Local Currency Ratings) on the regional rating scale, and ttA+ (Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&T) national scale to Point Lisas Industrial Port Development Corporation Limited (PLIPDECO 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:
- A greater than 8% y-o-y improvement in revenue for 2 consecutive years
- An improvement in profits by 40% for 2 consecutive years excluding the effects of revaluation gains and one-off incurrences
Factors that could, individually or collectively, lead to a lowering of the Ratings and/ or Outlook include:
- A material decline in revenue leading to a PAT margin of < 3% for 2 consecutive years
- DSCR falls to 1.1 times or below for 2 consecutive years
- Any material Company event that can result in default/breaches of loan covenants