{"id":2454,"date":"2025-06-25T16:53:16","date_gmt":"2025-06-25T20:53:16","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2454"},"modified":"2025-06-28T17:01:05","modified_gmt":"2025-06-28T21:01:05","slug":"gracekennedy-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/gracekennedy-limited-3\/","title":{"rendered":"GraceKennedy Limited"},"content":{"rendered":"<p class=\"badge\"><strong>RATING ACTION:<\/strong><\/p>\n<p>On June 13, 2025, CariCRIS reaffirmed the assigned issuer ratings of <em>Cari<\/em><strong>A<\/strong> (Local and Foreign Currency Ratings) on the regional rating scale and<em> jm<\/em><strong>AA <\/strong>(Local and Foreign Currency Rating) on the Jamaica national scale to <strong>GraceKennedy Limited (GKL or the Group). <\/strong>CariCRIS also reaffirmed the assigned issue ratings of the Group\u2019s bond issue of up to J $3 billion ratings at <em>Cari<\/em><strong>A<\/strong> (Local Currency Rating) on the regional rating scale and <em>jm<\/em><strong>AA<\/strong> (Local Currency Rating) on the Jamaica national scale. A <strong>stable<\/strong> outlook was assigned.<strong>\u00a0<\/strong><\/p>\n<p class=\"badge\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/p>\n<p><strong>Factors that could, individually or collectively, lead to an improvement in the\u00a0Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>An improvement in the creditworthiness of the Government of Jamaica<\/li>\n<li>Improvement in PAT margin to 5.5% and over sustained for 2 consecutive years<\/li>\n<li>Improvement in Operating Profit margin to 7.5% and over sustained for 2 consecutive years<\/li>\n<li>An increase in profitability resulting in return on assets (ROA) &gt; 5% for 2 consecutive years<\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering\u00a0<\/strong><strong>of the Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>Substantial and sustained deterioration in operating revenue of more than 10% over 2 successive years<\/li>\n<li>A decline in operating profit margin to 5% or below<\/li>\n<li>Impending trade tensions and\/or a material increase in tariffs that can adversely impact supply chain and inventory costs resulting in the GP margin falling to below 35%<\/li>\n<li>Decline in the parent company\u2019s DSCR ratio to &lt;1.33 times or fall in effective DSCR to below 1.5x<\/li>\n<li>Increase in Debt to EBITDA ratio to &gt;4.0 times<\/li>\n<li>A lowering of the creditworthiness of the Government of Jamaica<\/li>\n<\/ul>\n<div><\/div>\n<div><span style=\"font-size: 12pt;\"><strong>Analysts\u2019 Contact Info:<\/strong><\/span><\/div>\n<div><\/div>\n<div>\n<p>Anelia Oudit<br \/>\nMobile : 1-868-487-8364<br \/>\n<a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a><\/p>\n<p>Kyla Balwant<br \/>\nMobile : 1-868-682-9919<br \/>\n<a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a><\/p>\n<\/div>\n<div><\/div>\n<div>www.caricris.com<br \/>\n<a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/div>\n<div><\/div>\n<div><strong>Disclaimer<\/strong><strong>:<\/strong> CariCRIS has taken due care and caution in the 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.<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 13, 2025, CariCRIS reaffirmed the assigned issuer ratings of CariA (Local and Foreign Currency Ratings) on the regional rating scale and jmAA (Local and Foreign Currency Rating) on the Jamaica national scale to GraceKennedy Limited (GKL or the Group). CariCRIS also reaffirmed the assigned issue ratings of the Group\u2019s bond issue [&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-2454","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>GraceKennedy 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\/gracekennedy-limited-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GraceKennedy Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On June 13, 2025, CariCRIS reaffirmed the assigned issuer ratings of CariA (Local and Foreign Currency Ratings) on the regional rating scale and jmAA (Local and Foreign Currency Rating) on the Jamaica national scale to GraceKennedy Limited (GKL or the Group). 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