{"id":1983,"date":"2023-06-23T19:19:11","date_gmt":"2023-06-23T23:19:11","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1983"},"modified":"2025-05-05T19:20:14","modified_gmt":"2025-05-05T23:20:14","slug":"sagicor-financial-company-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/sagicor-financial-company-limited-3\/","title":{"rendered":"Sagicor Financial Company Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p>O<span style=\"font-family: 'book antiqua', palatino;\">n June 15, 2023, CariCRIS reaffirmed the assigned credit ratings of <em>Cari<\/em><strong>AA<\/strong> (Foreign and Local Currency Ratings) and <em>jm<\/em><strong>AAA<\/strong> (Foreign and Local Currency Ratings) on the Jamaica national scale to the debt issue of up to US $76 million of <strong>Sagicor Financial Company Limited (SFC or the Company). <\/strong>A stable outlook was assigned.<\/span><\/p>\n<p class=\"badge\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/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 ratings and \/or outlook include:<\/strong><\/span><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-family: 'book antiqua', palatino;\">Substantial improvement in the market position and financial performance and profitability of Sagicor USA<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Successful acquisitions and\/or regional expansion over the next 12 to 15 months with a concomitant material improvement in any of its main segments\u2019 market share and SFC\u2019s overall financial performance<\/span><\/li>\n<li><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 ratings\/or outlook include:<\/strong><\/span><\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">A significant change in capitalization, especially on account of future acquisitions resulting in the MCCSR falling to 175% or lower<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Substantial deterioration in consolidated financial performance, with a greater than 15.6% fall in premium income<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Decrease in Interest Coverage to &lt;1.5X<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">A reduction in the creditworthiness of Jamaica where SFC derives more than 30% of its profits<\/span><\/li>\n<\/ul>\n<h5><strong>Analysts\u2019 Contact Info:<\/strong><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">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;\"><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Jeffrey James<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:jjames@caricris.com\">jjames@caricris.com<\/a>\u00a0\u00a0 \u00a0<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong><strong> \u00a0<\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"http:\/\/www.caricris.com\"><strong>www.caricris.com<\/strong><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the assigned credit ratings of CariAA (Foreign and Local Currency Ratings) and jmAAA (Foreign and Local Currency Ratings) on the Jamaica national scale to the debt issue of up to US $76 million of Sagicor Financial Company Limited (SFC or the Company). A stable 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-1983","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 Financial 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\/sagicor-financial-company-limited-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sagicor Financial Company Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the assigned credit ratings of CariAA (Foreign and Local Currency Ratings) and jmAAA (Foreign and Local Currency Ratings) on the Jamaica national scale to the debt issue of up to US $76 million of Sagicor Financial Company Limited (SFC or the Company). A stable outlook was assigned. 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