The Jamaica National Group maintained its CariCRIS investment rating status despite a dip in its overall rating. The Group’s rating remains solid for 2024, although the national scale rating has seen a decline. The outlook is stable due to a strategic divestment plan, with expectations of improved financial results by 2026.
The Jamaica National Group has successfully retained its investment rating status from the Caribbean Information and Credit Rating Services Limited (CariCRIS), even as there has been a decline in its overall Issuer/Corporate Credit Rating. This information was disclosed to company executives following CariCRIS’s annual review.
In summary, despite a decrease in certain credit ratings, the Jamaica National Group continues to demonstrate robust market positioning and effective governance. CEO Earl Jarrett’s comments highlight the organization’s commitment to financial restructuring and enhancing profitability, aiming for improved outcomes in the coming years.
Original Source: jamaica.loopnews.com
