{"id":1902,"date":"2024-12-08T19:27:51","date_gmt":"2024-12-08T23:27:51","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1902"},"modified":"2025-04-30T19:28:41","modified_gmt":"2025-04-30T23:28:41","slug":"endeavour-holdings-ltd","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/endeavour-holdings-ltd\/","title":{"rendered":"Endeavour Holdings Ltd"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On December 6, 2023, CariCRIS reaffirmed the assigned issue ratings of <em>Cari<\/em><strong>A<\/strong> (Local and Foreign Currency Ratings) on the regional scale and <em>tt<\/em><strong>A<\/strong> (Local Currency Rating) on the Trinidad and Tobago national scale to the TT $400 million bond issue of <strong>Endeavour Holdings Limited (EHL or the Company). <\/strong>A positive 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>\u00a0<\/strong><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 ratings of the Government of Trinidad and Tobago<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Rental income increases by 8% or more leading to a more than 13% increase in operating profit<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Occupancy levels rising to above 95%<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A rise in effective DSCR to over 1.5 times for 2 consecutive 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 of the ratings\/ 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 rental expenses to 40% or more of rental income leading to a material decline in PAT<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Occupancy levels declining to below 75%<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Breach of any of the bond\u2019s financial covenants<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A fall in the effective DSCR to below 1<\/span>.5 times for 2 consecutive years.<\/li>\n<\/ul>\n<h4><strong>Analysts\u2019 Contact Info:<\/strong><\/h4>\n<h5><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\">Mobile : 1-868-487-8364<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a>\u00a0 \u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-size: 8pt;\">Brandon Singh<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:bsingh@caricris.com\">bsingh@caricris.com<\/a>\u00a0<\/span><\/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 reaffirmed the assigned issue ratings of CariA (Local and Foreign Currency Ratings) on the regional scale and ttA (Local Currency Rating) on the Trinidad and Tobago national scale to the TT $400 million bond issue of Endeavour Holdings Limited (EHL or the Company). A positive outlook was assigned. [&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-1902","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>Endeavour Holdings Ltd - 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\/endeavour-holdings-ltd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Endeavour Holdings Ltd - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On December 6, 2023, CariCRIS reaffirmed the assigned issue ratings of CariA (Local and Foreign Currency Ratings) on the regional scale and ttA (Local Currency Rating) on the Trinidad and Tobago national scale to the TT $400 million bond issue of Endeavour Holdings Limited (EHL or the Company). A positive outlook was assigned. 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