Wigton Energy says regional credit ratings agency, Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed the ratings on its $5.8 billion bond issue, maintaining a stable outlook for the renewable energy company.
CariCRIS has upheld Wigton Jamaica's national scale rating at jmA for local currency, indicating good credit worthiness when compared with other obligations in Jamaica.
The agency also reaffirmed the regional scale rating at CariBBB+, reflecting adequate credit strength within the wider Caribbean.
The stable outlook is based on CariCRIS's expectation that Wigton will remain profitable over the next 12 to 15 months, despite temporary operational and economic disruptions caused by Hurricane Melissa.
The ratings agency says Wigton's resilience is supported by its core wind energy operations, its expansion into solar power generation, and strong insurance coverage - all of which are expected to sustain revenues and operations.
CariCRIS also expects the company to meet all its debt service obligations on time.
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