RATING ACTION:
On September 15, 2022, CariCRIS reaffirmed the assigned ratings of CariA- (Local Currency Rating) and CariBBB+ (Foreign Currency Rating) on the regional rating scale, and jmAA- (Local Currency Rating) and jmA+ (Foreign Currency Rating) on the Jamaica national scale to Supreme Ventures Limited (SVL or the Group). The stable outlook was maintained.
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, leading to an improved overall credit risk profile
- An increase in earnings from its Guyana operations to more than 15% of SVL’s annual profits
- Revenues increases by more than 10% per annum for 2 consecutive 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
- A deterioration of SVL’s revenue by more than 15%
- Interest Cover and/or DSCR below 1.5 times and 3.25 times respectively
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Kyla Balwant