{"id":1967,"date":"2023-08-09T18:50:01","date_gmt":"2023-08-09T22:50:01","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1967"},"modified":"2025-05-05T18:50:49","modified_gmt":"2025-05-05T22:50:49","slug":"sygnus-credit-investment-limited","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/sygnus-credit-investment-limited\/","title":{"rendered":"Sygnus Credit Investment Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On July 26, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit Ratings of <em>Cari<\/em><strong>BBB- <\/strong>(Foreign and Local Currency Ratings) on the regional rating scale, and <em>jm<\/em><strong>BBB+<\/strong> (Foreign and Local Currency Ratings) on the Jamaica national scale to <strong>Sygnus Credit Investments Limited (SCI or the Company).<\/strong> A stable outlook was assigned.<\/span><\/p>\n<p class=\"badge\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>\u00a0<\/strong><strong>RATING SENSITIVITY FACTORS:<\/strong><\/span><\/p>\n<p><span style=\"text-decoration: underline;\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to an improvement in the rating and\/or outlook:<\/strong><\/span><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Improving business conditions over the next 12-15 months, thereby leading to growth in client base and sustained earnings growth<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Further diversity in asset class through the successful launch of new products<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">SCI\u2019s ability to attract and retain lower cost funding<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to a lowering of the rating and\/or outlook: <\/strong><\/span><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Deterioration of asset quality as measured by the ratio of non-performing notes to gross notes to 8% or more<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Increase of SCI\u2019s debt to TNW and\/or total debt to total assets ratio to over 1.25 times or above 50% respectively for 2 consecutive financial years<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Cost to Income ratio weakens to 50% and over<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A sustained decrease in yield from average interest earning assets to less than 8.5% and\/or a rise in funding costs to over 8.3%, thereby leading to a tightening of the net interest spread earned on investments for 2 consecutive financial years<\/span><\/li>\n<\/ul>\n<h4><strong>Analysts\u2019 Contact Info:<\/strong><\/h4>\n<h5><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\">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; font-size: 10pt;\">Brandon Singh<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\"><a href=\"mailto:bsingh@caricris.com\">bsingh@caricris.com<\/a> \u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; 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-family: 'book antiqua', palatino; 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 July 26, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit Ratings of CariBBB- (Foreign and Local Currency Ratings) on the regional rating scale, and jmBBB+ (Foreign and Local Currency Ratings) on the Jamaica national scale to Sygnus Credit Investments Limited (SCI or the Company). A stable outlook was assigned. \u00a0RATING SENSITIVITY FACTORS: 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-1967","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>Sygnus Credit Investment 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\/sygnus-credit-investment-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sygnus Credit Investment Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On July 26, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit Ratings of CariBBB- (Foreign and Local Currency Ratings) on the regional rating scale, and jmBBB+ (Foreign and Local Currency Ratings) on the Jamaica national scale to Sygnus Credit Investments Limited (SCI or the Company). 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