... Corporation Limited's (SFCL) ratings are constrained by Fitch Ratings' view of the economic environment and the sovereign risks, including transfer and convertibility (T&C) risks, in Jamaica primarily due to the regional segments' significant earnings contribution and capital relative to the consolidated group. Jamaica's Country Ceiling of `B' was applied to SFCL's ratings and the SFCL Issuer Default Rating (IDR) was notched down to `B' as a result. Barbados Sovereign Risk Manageable: The high debt burden of the Barbados government increased concerns of a likelihood of a sovereign restructuring event. Fitch believes that potential investment losses from a Barbados sovereign debt restructuring could increase up to between 10% and 15% of capital and views that as manageable relative to the company's earnings, capital position, and provisions in place for credit and interest rate risk. Good Capitalization: SFCL maintains good capitalization that...
