RATING ACTION:
On November 9, 2023, CariCRIS upgraded the assigned Issuer/Corporate Credit Rating by 1-notch to CariA (Local Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale ratings of jmAA- (Local Currency Rating) and jmA+ (Foreign Currency Rating) to Seprod Limited (Seprod or the Group). A stable outlook was assigned.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement of the rating and/or outlook:
- An improvement in the GOJ’s credit rating over the next 12-15 months
- Sustained improvement in Group PAT by over 15% or more annually for another year
- An improvement in the effective DSCR to above 1.5 times respectively for the next 2 years
Factors that could, individually or collectively, lead to a lowering of the rating and/or outlook:
- A deterioration in the GOJ’s credit rating over the next 12-15 months
- The Group’s effective DSCR remains below 1.5 times
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Kyla Balwant