...Outlook Revised to Stable: The revision to Sagicor Financial Corporation's (SFC) Outlook follows Fitch's rating action on Jamaica's sovereign ratings, including affirmation of the Country Ceiling at `B' and change in Outlook to Stable from Positive. Fitch Ratings previously indicated an upgrade of Jamaica's Country Ceiling, together with completion of a planned reorganization of company structure, would trigger an upgrade in SFC's Issuer Default Rating (IDR) to `B+'. SFC's ratings remain constrained by transfer and convertibility (T&C) risks in Jamaica and Barbados. Concentration in Jamaica and Barbados: Fitch's ratings for SFC reflect the operating environments of the main subsidiaries domiciled in Barbados and Jamaica and very high exposure to below investment-grade sovereign debt of the respective countries. Fifty-eight percent of total revenues come from Jamaica and Barbados, and the sovereign debt together equates to over 170% of SFC's consolidated shareholders' equity. Strong Capitalization...
