GraceKennedy Limited (GK) is pleased to announce that Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed its credit ratings for the Company in 2025 and upgraded its Overall Management Risk rating.
CariCRIS affirmed GK’s regional scale ratings at CariA (Local and Foreign Currency) and its Jamaica national scale ratings at jmAA (Local and Foreign Currency). These ratings reflect a good level of creditworthiness relative to other obligors and debt obligations across the Caribbean, and a high level of creditworthiness compared to other entities within Jamaica.
In a significant milestone, CariCRIS also upgraded GraceKennedy’s Overall Management Risk rating from ‘Strong’ to ‘Highest’, a strong endorsement of the Company’s leadership, strategic direction, and governance framework.
Frank James, Group CEO of GraceKennedy Limited commented, “This reaffirmation and upgrade reflect the disciplined execution of our strategy and the strength of our team. GraceKennedy is focused on building a global Caribbean brand, and we remain committed to creating long-term value for our stakeholders. I want to thank our entire team, this recognition is a result of their dedication, resilience, and drive.”
CariCRIS highlighted that the reaffirmed ratings are supported by GK’s ongoing business expansion through strategic acquisitions and partnerships, along with operational efficiency initiatives across its business segments. The agency also noted the expected continued strong demand for GK’s food products and services, supported by new product innovation, improved distribution, and positive economic conditions in its main market, Jamaica.
Andrew Messado, Group CFO, added, “The upgrade of our Management Risk rating to the highest level, alongside our reaffirmed credit ratings, is a clear validation of our consistent and sound financial management and sound governance practices. It reflects our focus on long-term financial sustainability and value creation.”
CariCRIS is the leading credit rating agency in the Caribbean, providing independent assessments of creditworthiness for companies and governments across the region. Their ratings help guide investor decisions and contribute to the development of regional financial markets.
