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By Javaughn Keyes
Gaming and lottery company Supreme Ventures has maintained a 'good' credit rating from the Caribbean Information and Credit Rating Services (CariCRIS).
A CariA rating has been reaffirmed for Supreme Ventures, by the credit risk assessment firm CariCRIS, for the assigned issuer/corporate credit ratings on the regional scale for local currency dealings.
In its latest report, CariCRIS also held its CariA- foreign currency rating on the regional scale.
On the local scene, SVL's Jamaican dollars currency creditworthiness was given a jmAA- rank, and jmA+ for foreign currency.
CariCRIS says the regional scale local currency rating indicates that the level of creditworthiness in the Caribbean is good.
The national scale local currency rating indicates high creditworthiness.
The ratings agency also assigned a stable outlook to Supreme Ventures.
It says this is based on the expectation that the SVL will continue to report good financial performances, with sustained profitability and comfortable debt protection metrics.
The report says this positive outlook is supported by the implementation of strategic growth initiatives that are expected to gradually support revenue generation capabilities across SVL's core business lines, notwithstanding higher operating expenses.
CariCRIS says higher ratings could come from an improvement in the Government of Jamaica's credit rating, leading to an improved overall credit risk profile.
An increase in earnings from its Guyana operations to more than 15 per cent of SVL's annual profits, as well as revenue increases of more than 12 per cent, sustained for the next year to yer and a half, could improve the outlook.
There are however some downside risks.
CariCRIS says a deterioration in the Government of Jamaica's credit rating over the next 12 to 15 months, along with a more than 12 per cent fall in revenue could negatively affect the group.
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