Sagicor Financial Announces Investment Grade Ratings from Fitch

Executive Summary

• Fitch upgraded Sagicor Financial’s long‑term issuer default rating to BBB (from BBB‑) and its senior unsecured debt rating to BBB‑ (from BB+), with a Stable outlook.
• The upgrade reflects strengthened core profitability, contributions from ivari, lower financing costs, and a strong capitalization profile.
• Fitch also affirmed ivari’s Insurer Financial Strength rating at A‑ (Stable).

Key Details

• Long‑Term Issuer Default Rating: upgraded to BBB, Stable outlook (previously BBB‑).
• Senior Unsecured Debt Rating: upgraded to BBB‑, Stable outlook (previously BB+).
• ivari Insurer Financial Strength Rating: affirmed at A‑, Stable outlook.
• Rationale for Upgrade:
• Strengthened core profitability.
• Two years of consolidated contributions from ivari.
• Lower debt financing costs.
• Strong overall capitalization profile.
• CEO Quote (Andre Mousseau, President & CEO): “We are pleased with this upgrade… This upgrade will provide Sagicor with enhanced access to capital as we execute our strategy.”
• Implications: Investment‑grade rating enhances Sagicor’s ability to raise capital on favorable terms and supports its growth strategy.

Notable Quotes

“We are pleased with this upgrade, which provides a unanimous view from our credit rating agencies that Sagicor's senior unsecured debt is investment grade… This upgrade will provide Sagicor with enhanced access to capital as we execute our strategy.” – Andre Mousseau, President and Chief Executive Officer.