{"id":1887,"date":"2023-12-22T19:04:37","date_gmt":"2023-12-22T23:04:37","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1887"},"modified":"2025-04-30T19:06:01","modified_gmt":"2025-04-30T23:06:01","slug":"jamaica-public-service-company-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/jamaica-public-service-company-limited-3\/","title":{"rendered":"Jamaica Public Service Company Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On December 6, 2023, CariCRIS upgraded the assigned corporate credit rating by 1-notch to <em>Cari<\/em><strong>A<\/strong> (Foreign Currency Rating) and <em>Cari<\/em><strong>A+<\/strong> (Local Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale rating of <em>jm<\/em><strong>AA+ <\/strong>to <strong>Jamaica Public Service Company Limited (JPS or the Company)<\/strong>. A stable outlook was assigned.<\/span><\/p>\n<p class=\"badge\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/span><\/p>\n<p><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 improvement in the credit rating of the Government of Jamaica over the next 12 \u2013 15 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Continued improvement in the economic conditions in Jamaica over the next 2 years, thereby leading to increased demand for energy<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Improved operating efficiency, with availability, heat rate and SAIDI metrics consistently meeting targets over the next 2 years<\/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 deterioration in the credit rating of the Government of Jamaica over the next 12 \u2013 15 months<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Failure to satisfy any existing debt covenants<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">At least 2 consecutive years of declining operating profit by 10% or more<\/span><\/li>\n<\/ul>\n<p><strong>Analysts\u2019 Contact Info:<\/strong><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Mobile : 1-868-487-8364<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\"><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Kyla Balwant<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a>\u00a0\u00a0 \u00a0<\/span><\/p>\n<p><a href=\"http:\/\/www.caricris.com\"><strong>www.caricris.com<\/strong><\/a><strong>\u00a0 <\/strong><\/p>\n<p><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong> <strong>\u00a0<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-size: 8pt;\"><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><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On December 6, 2023, CariCRIS upgraded the assigned corporate credit rating by 1-notch to CariA (Foreign Currency Rating) and CariA+ (Local Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale rating of jmAA+ to Jamaica Public Service Company Limited (JPS or the Company). A stable outlook was assigned. RATING [&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-1887","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>Jamaica Public Service Company 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\/jamaica-public-service-company-limited-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jamaica Public Service Company Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On December 6, 2023, CariCRIS upgraded the assigned corporate credit rating by 1-notch to CariA (Foreign Currency Rating) and CariA+ (Local Currency Rating) on the regional rating scale and reaffirmed the Jamaica national scale rating of jmAA+ to Jamaica Public Service Company Limited (JPS or the Company). A stable outlook was assigned. 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