{"id":1854,"date":"2024-04-26T18:18:26","date_gmt":"2024-04-26T22:18:26","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1854"},"modified":"2025-04-29T18:20:29","modified_gmt":"2025-04-29T22:20:29","slug":"guyana-shore-base-incorporated-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/guyana-shore-base-incorporated-3\/","title":{"rendered":"Guyana Shore Base Incorporated"},"content":{"rendered":"

RATING ACTION:<\/h2>\n

On March 12, 2024, 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 and gyAAA (Foreign and Local Currency Ratings) on its Guyana national scale. A stable outlook was maintained.<\/span><\/p>\n

RATING SENSITIVITY FACTORS:<\/span><\/p>\n

Factors that could, individually or collectively, lead to an improvement in the ratings and\/or outlook include:<\/span>
\n\u2022 Successful operations of GYSBI over the next 2 years, leading to Profit After Tax (PAT) improving by 15% or more annually<\/span>
\n\u2022 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<\/span><\/p>\n

Factors that could, individually or collectively, lead to a lowering of the ratings and\/or outlook include:<\/span>
\n\u2022 Failure to satisfy any of the performance requirements of the contractual agreement with Esso Exploration and Production Guyana Limited (EEPGL)<\/span>
\n\u2022 A material reduction in GYSBI\u2019s labour and plant efficiency metrics, which would lead to an increase in GYSBI\u2019s operating expenses<\/span>
\n\u2022 Failure of GYSBI to meet EEPGL\u2019s key performance indicators (KPIs) stipulated in the 11-year contract<\/span>
\n\u2022 A reduction in services provided to EEPGL leading to revenue declines of more than 15% for 2 consecutive years<\/span>
\n\u2022 An increase in debt leading to increased leverage of above 3.5 times sustained for 2 financial periods<\/span>
\n\u2022 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<\/span><\/p>\n

Analysts\u2019 Contact Info:<\/strong><\/p>\n

Keith Hamlet
\nMobile: 1-868-487-8356
\nkhamlet@caricris.com<\/a><\/p>\n

Megan Dass
\nMobile: 1-868-713-6863
\nmdass@caricris.com<\/a><\/p>\n

www.caricris.com
\ninfo@caricris.com<\/a><\/p>\n

Disclaimer: 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>\n","protected":false},"excerpt":{"rendered":"

RATING ACTION: On March 12, 2024, 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 and gyAAA (Foreign and Local Currency Ratings) on its Guyana national scale. A stable outlook was maintained. RATING SENSITIVITY FACTORS: Factors […]<\/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-1854","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"\nGuyana 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-3\/\" \/>\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 12, 2024, 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 and gyAAA (Foreign and Local Currency Ratings) on its Guyana national scale. 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