...Significant Increase in Capital: Sagicor Financial Company Limited's (SFCL) acquisition by Alignvest II Acquisition Corporation (AQY), which closed at YE 2019, brought in additional capital proceeds of $440 million, which exceeded original company expectations by approximately $225 million. Based on discussions with management regarding its capital management plans, Fitch Ratings expects the company to further enhance its financial profile and support growth in SFCL's insurance operations in investment-grade jurisdictions. IDR and Senior Debt Upgraded: The upgrade in SFCL's Issuer Default ratings (IDR) and senior debt ratings reflects significant improvement in capitalization and financial leverage as a result of the equity capital infusion. The Positive Outlook reflects Fitch's view that the ratings could be further upgrade based on successful execution of the company's capital management plans. Substantial Reduction of Financial Leverage: SFCL's financial leverage ratio (FLR) was high...
