RATING ACTION:
On March 27, 2026, CariCRIS reaffirmed the Issuer/Corporate Credit Ratings assigned to Massy Holdings Limited and its subsidiaries (Massy or the Group) at CariAA+ (Foreign and Local Currency Ratings) on the regional rating scale and ttAA+ (Foreign and Local Currency Ratings) on the Trinidad and Tobago national scale. A stable outlook was maintained.
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RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the Ratings and/ or Outlook include:
- An increase in profitability resulting in annualised return on assets (ROA) > 6.5% for 2 consecutive financial periods
- Annualised return on capital employed (ROCE) > 16.5% for 2 consecutive financial periods
- An increase in operating cash flows leading to an improvement in effective debt service coverage ratio (DSCR) to > 6 times for 2 consecutive financial periods
Factors that could, individually or collectively, lead to a lowering of the Ratings and/ or Outlook include:
- A decline in profitability resulting in annualised ROA < 5% for 2 consecutive financial periods
- Annualised ROCE < 10% for 2 consecutive financial periods
- Any occurrence of a decline in operating cash flows leading to a deterioration in effective DSCR to < 1 time
Analysts’ Contact Info:
Keith Hamlet
Tel: 1-868-487-8356
E-mail: khamlet@caricris.com
Shabanna Seetaram
E-mail: sseetaram@caricris.com
Disclaimer: 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. 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. No part of this report may be published / reproduced in any form without CariCRIS’ prior written approval. 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