RATING ACTION:
On March 16, 2022, CariCRIS reaffirmed the assigned ratings of CariA (Local Currency Rating) and CariA- (Foreign Currency Rating) on the regional rating scale, and jmAAA on the Jamaica national scale to Sagicor Group Jamaica Limited (SGJ 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 our internal ratings assigned to the sovereign
Factors that could, individually or collectively, lead to a lowering in the ratings and/or Outlook include:
- Substantial deterioration in the financial performance and profitability of the Group, with a greater than 25% increase in net insurance benefits and claims and an accompanying 15% rise in operating expenses
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Kyla Balwant