{"id":1883,"date":"2024-03-18T18:53:08","date_gmt":"2024-03-18T22:53:08","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1883"},"modified":"2025-04-30T18:54:18","modified_gmt":"2025-04-30T22:54:18","slug":"sagicor-group-jamaica-limited-4","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/sagicor-group-jamaica-limited-4\/","title":{"rendered":"Sagicor Group Jamaica Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On March 12, 2024, CariCRIS upgraded the assigned credit ratings by 1-notch to <em>Cari<\/em><strong>A+ <\/strong>(Local Currency Rating) and <em>Cari<\/em><strong>A<\/strong> (Foreign Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale rating of <em>jm<\/em><strong>AAA <\/strong>to<strong> Sagicor Group Jamaica Limited (SGJ or the Company).<\/strong> A stable outlook was assigned.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>\u00a0<\/strong><strong>RATING SENSITIVITY FACTORS:<\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>\u00a0<\/strong><\/span><span style=\"font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to an improvement in the ratings and\/or Outlook include:<\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An increase in CariCRIS\u2019 internal ratings assigned to the sovereign, driven by continued favourable improvements in the macroeconomic environment of Jamaica resulting in a lowering of the debt\/GDP ratio of the sovereign.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to a lowering in the ratings and\/or Outlook include: <\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-family: 'book antiqua', palatino;\">A greater than 15% increase in insurance service expenses leading to lower financial performance of SLJ.<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">A 21% rise in operating expenses.<\/span><\/li>\n<\/ul>\n<h4><strong>Analysts\u2019 Contact Info:<\/strong><\/h4>\n<h5><span style=\"font-size: 8pt;\">Keith Hamlet<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\">Mobile : 1-868-487-8356<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:khamlet@caricris.com\">khamlet@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-size: 8pt;\">Kyla Balwant<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"http:\/\/www.caricris.com\"><strong>www.caricris.com<\/strong><\/a><strong>\u00a0 <\/strong><\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong> <strong>\u00a0<\/strong><\/span><\/p>\n<p><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\"><strong>Disclaimer<\/strong><strong>:<\/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.\u00a0 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.\u00a0 No part of this report may be published \/ reproduced in any form without CariCRIS\u2019 prior written approval.\u00a0 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","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On March 12, 2024, CariCRIS upgraded the assigned credit ratings by 1-notch to CariA+ (Local Currency Rating) and CariA (Foreign Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale rating of jmAAA to Sagicor Group Jamaica Limited (SGJ or the Company). A stable outlook was assigned. \u00a0RATING SENSITIVITY FACTORS: [&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-1883","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>Sagicor Group Jamaica Limited - 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\/sagicor-group-jamaica-limited-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sagicor Group Jamaica Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On March 12, 2024, CariCRIS upgraded the assigned credit ratings by 1-notch to CariA+ (Local Currency Rating) and CariA (Foreign Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale rating of jmAAA to Sagicor Group Jamaica Limited (SGJ or the Company). 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