Pan Jamaica Group has received a rating upgrade from Caribbean Information and Credit Rating Services Limited (CariCRIS).
In a release, the rating agency confirmed that one notch has been added, bringing the company's Issuer/Corporate Credit ratings on a regional scale to CariA for Foreign and Local Currency (LC)).
CariCRIS says, on the national rating scale, Pan Jamaica has received j-mAA for both local and foreign currency borrowing.
The firm says the regional scale ratings indicate good creditworthiness in Jamaica and the wider Caribbean.
The upgrade in the group's rating is attributed to its increased diversity in business lines and operating territories, following the amalgamation of PanJam Investment Limited with the business operations of Jamaica Producers Group Limited (JP).
CariCRIS says this strengthens the Group’s resilience to economic uncertainty and boosts its overall earning potential.
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