CariCRIS reaffirms ‘good’ creditworthiness ratings to the bond issue of up to J $3 billion of GraceKennedy Limited
Month: June 2022
GraceKennedy Limited
Point Lisas Industrial Port Development Corporation Limited
CariCRIS reaffirms “good creditworthiness” ratings for Point Lisas Industrial Port Development Corporation Limited
Point Lisas Industrial Port Development Corporation Limited
RATING ACTION:
On June 15, 2022, CariCRIS reaffirmed the assigned issuer/corporate credit ratings of CariA+ (Foreign and Local Currency Ratings) on the regional rating scale, and ttA+ (Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&T) national scale to Point Lisas Industrial Port Development Corporation Limited (PLIPDECO or the Company). A stable outlook was also maintained.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement of the rating and/or outlook:
- A greater than 8% y-o-y improvement in revenue for 2 consecutive years
- An improvement in profits by 40% for 2 consecutive years excluding the effects of revaluation gain
Factors that could, individually or collectively, lead to a lowering of the rating and/or outlook:
- A material decline of 10% in revenue and profits in 2021
- Current ratio of <1x for a sustained period of 12-18 months
- Any material Company event that can result in default/breaches of covenants
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Brandon Singh