S&P lifts Sagicor, view to positive

S&P said it upgraded the ratings for Sagicor Financial Corp. Ltd., Sagicor Finance (2015) Ltd. and the company’s $320 million of seven-year senior unsecured notes due 2022 to BB from BB-.

“Sagicor group has been able to consistently generate and accumulate earnings in recent years thanks to conservative underwriting practices and its sound diversification of income sources,” said S&P in a press release.

S&P changed the outlook to positive and removed the ratings from CreditWatch with developing implications.

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