{"id":1738,"date":"2025-03-21T19:12:02","date_gmt":"2025-03-21T23:12:02","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1738"},"modified":"2025-04-24T19:14:05","modified_gmt":"2025-04-24T23:14:05","slug":"gulfstream-petroleum-dominicana-s-de-rl","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/gulfstream-petroleum-dominicana-s-de-rl\/","title":{"rendered":"Gulfstream Petroleum Dominicana, S. De RL"},"content":{"rendered":"<h2>RATING ACTION:<\/h2>\n<p>On March 14, 2025, CariCRIS assigned Initial Issue Credit Ratings to the up to US $25 million proposed bond issue of Gulfstream Petroleum Dominicana, S. De RL (GPD or the Company or Gulfstream) at CariBBB- (Foreign Currency Rating) on the regional rating scale, and drA- (Foreign Currency Rating) on the Dominican Republic national scale. A stable outlook was also assigned.<\/p>\n<p class=\"badge\">RATING SENSITIVITY FACTORS:<\/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>Gross profit (GP) margin at 10% or higher, sustained for 2 financial years<\/li>\n<li>Gross profit (GP) margin at 10% or higher, sustained for 2 financial years<\/li>\n<li>Return on assets (ROA) at 5% or higher, sustained for 2 financial years<\/li>\n<li>An improvement in the sovereign risk profile of the Government of the Dominican Republic (DR)<\/li>\n<li>Debt service coverage ratio (DSCR) above 1.5 times, sustained for more than 2 financial years<\/li>\n<li>Debt to tangible net worth (TNW) ratio below 10 times, 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>Breach of any of the debt covenants\u2022 Breach of any of the debt covenants<\/li>\n<li>Failure to satisfy any of the performance requirements of contractual agreements with counterparties<\/li>\n<li>Breach of any technical or environmental regulations or quality standards stipulated by the regulator<\/li>\n<li>Debt to TNW ratio above 30 times, sustained for 2 financial periods<\/li>\n<li>Effective DSCR below 1 time, sustained for 2 financial periods<\/li>\n<li>Debt to earnings before interest, taxes, depreciation and amortization (EBITDA) ratio above 12.5 times<\/li>\n<li>A decline in the sovereign risk profile of the Government of the DR<\/li>\n<li>Significant negative variances in 2024 audited financial statements compared to management accounts<\/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:khamelt@caricris.com\">khamelt@caricris.com<\/a><\/p>\n<p>Maxwell Gooding<br \/>\n<a href=\"mailto:mgooding@caricris.com\">mgooding@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","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On March 14, 2025, CariCRIS assigned Initial Issue Credit Ratings to the up to US $25 million proposed bond issue of Gulfstream Petroleum Dominicana, S. De RL (GPD or the Company or Gulfstream) at CariBBB- (Foreign Currency Rating) on the regional rating scale, and drA- (Foreign Currency Rating) on the Dominican Republic national [&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-1738","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>Gulfstream Petroleum Dominicana, S. 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