{"id":2677,"date":"2022-06-24T19:08:00","date_gmt":"2022-06-24T23:08:00","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2677"},"modified":"2025-06-29T19:09:24","modified_gmt":"2025-06-29T23:09:24","slug":"sagicor-financial-company-limited-7","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/sagicor-financial-company-limited-7\/","title":{"rendered":"Sagicor Financial Company Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p style=\"text-align: justify;\">On June 15, 2022, 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 \u00a0up to US $76 million of <strong>Sagicor Financial Company Limited (SFC or the Company). <\/strong>A stable outlook was maintained.<\/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 ratings and \/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>Substantial improvement in the market position and financial performance and profitability of Sagicor USA<\/li>\n<li>An improvement in the creditworthiness of Jamaica where SFC derives more than 25% of its revenue and 64.4% of its profits<\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering of the ratings\/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>A significant change in capitalization, especially on account of future acquisitions resulting in the MCCSR falling to 175% or lower<\/li>\n<li>A reduction in the creditworthiness of Jamaica where SFC derives more than 25% of its revenue and 64.4% of its profits<\/li>\n<li>Substantial deterioration in consolidated financial performance, with a greater than 30% fall in premium income<\/li>\n<li>Decrease in Interest Coverage to &lt;1.5X<\/li>\n<\/ul>\n<p><strong>Analysts\u2019 Contact Info:<\/strong><\/p>\n<p>Anelia Oudit<\/p>\n<p>Mobile : 1-868-487-8364<\/p>\n<p><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a><\/p>\n<p>Nadia Sanchez<\/p>\n<p><a href=\"mailto:nsanchez@caricris.com\">nsanchez@caricris.com<\/a><\/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<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 15, 2022, 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 \u00a0up to US $76 million of Sagicor Financial Company Limited (SFC or the Company). A stable outlook was maintained. [&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-2677","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-7\/\" \/>\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, 2022, 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 \u00a0up to US $76 million of Sagicor Financial Company Limited (SFC or the Company). A stable outlook was maintained. 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