RATING ACTION:
On December 7, 2022, CariCRIS reaffirmed the Issuer/Corporate Credit ratings CariBBB- (Foreign and Local Currency Ratings) on its regional rating scale assigned to Saint Lucia Electricity Services Limited (LUCELEC or the Company). 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 the credit rating of the sovereign over the next 12-15 months
- Continued improvements in economic and business conditions over the next 12 months in Saint Lucia, thereby leading to increased electricity sales
Factors that could, individually or collectively, lead to a lowering of the ratings and/or outlook include:
- A greater than 10% decline in PAT for 2 consecutive years
- The occurrence of any event risk that may lead to the financial parameters deteriorating beyond the range for the current rating level
- A change in the monopoly position afforded by regulation
Analysts’ Contact Info:
Keith Hamlet
Mobile: 1-868-487-8356
Megan Dass