CariCRIS upgrades Poly Pet outlook on successful bond refinancing

Caribbean Information and Credit Rating Services (CarCris) has lifted its outlook on Poly Pet Company Limited to “stable from negative”, citing the Jamaican manufacturer’s successful refinancing of up to $1 billion in bonds as a turning point for the company’s liquidity position. “The stable outlook reflects the high likelihood that the successful refinancing … has materially reduced refinancing risk and improved the company’s medium-term liquidity position,” stated CariCris in its latest filings this month.