{"id":1719,"date":"2025-03-28T18:39:02","date_gmt":"2025-03-28T22:39:02","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1719"},"modified":"2025-05-07T14:31:01","modified_gmt":"2025-05-07T18:31:01","slug":"guyana-shore-base-incorporated-2","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/guyana-shore-base-incorporated-2\/","title":{"rendered":"Guyana Shore Base Incorporated"},"content":{"rendered":"<h2>RATING ACTION:<\/h2>\n<p>On March 14, 2025, CariCRIS reaffirmed the issuer\/corporate credit ratings assigned to Guyana Shore Base Incorporated (GYSBI or the Company) at CariAA- (Foreign and Local Currency Ratings) on its regional rating scale. A stable outlook was maintained.<\/p>\n<p><strong>Factors that could, individually or collectively, lead to an improvement in the ratings and\/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>Successful operations of GYSBI over the next 2 years, leading to ROA and ROE of 15% and 50% respectively, for 2 consecutive years.<\/li>\n<li>A reduction in client concentration risk where a single client will not account for more than 50% of the Company\u2019s revenue, sustained for 2 financial years<\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering of the ratings and\/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>Failure to satisfy any of the performance requirements of the contractual agreement with Exploration and Production Guyana Limited (EEPGL)<\/li>\n<li>An increase in GYSBI\u2019s operating expenses, resulting in a deterioration in the cost to income ratio to 85% or higher, sustained for 2 consecutive years<\/li>\n<li>Failure of GYSBI to meet EEPGL\u2019s key performance indicators (KPIs) stipulated in the 11-year contract<\/li>\n<li>A reduction in revenue leading to a decline in the GP Margin to 35% or lower, sustained for 2 consecutive years<\/li>\n<li>An increase in debt leading to increased leverage of above 3.5 times sustained for 2 financial periods<\/li>\n<li>An increase in det servicing requirements, leading to a decrease in effective debt service coverage ratio (DSCR) to below 1.25 times sustained for 2 financial years<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Analysts\u2019 Contact Info:<\/strong><\/span><\/p>\n<p>Keith Hamlet<br \/>\nMobile: 1-868-487-8356<br \/>\n<a href=\"mailto:khamlet@caricris.com\">khamlet@caricris.com<\/a><\/p>\n<p>Sharlene Gordon<br \/>\nMobile: 1-876-564-5230<br \/>\n<a href=\"mailto:sgordon@caricris.com\">sgordon@caricris.com<\/a><\/p>\n<p>www.caricris.com<br \/>\n<a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/p>\n<p><span style=\"font-size: 8pt;\"><strong>Disclaimer<\/strong>: CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published\/ reproduced in any form without CariCRIS\u2019 prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers\/ users\/ transmitters\/ distributors of this product.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On March 14, 2025, CariCRIS reaffirmed the issuer\/corporate credit ratings assigned to Guyana Shore Base Incorporated (GYSBI or the Company) at CariAA- (Foreign and Local Currency Ratings) on its regional rating scale. A stable outlook was maintained. Factors that could, individually or collectively, lead to an improvement in the ratings and\/or outlook include: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-1719","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Guyana Shore Base Incorporated - CariCRIS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/guyana-shore-base-incorporated-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Guyana Shore Base Incorporated - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On March 14, 2025, CariCRIS reaffirmed the issuer\/corporate credit ratings assigned to Guyana Shore Base Incorporated (GYSBI or the Company) at CariAA- (Foreign and Local Currency Ratings) on its regional rating scale. A stable outlook was maintained. 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A stable outlook was maintained. 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