CariCRIS Reaffirms ‘Adequate Creditworthiness’ Ratings of Wigton Energy Limited

• On December 18, 2025, Caribbean Information and Credit Rating Services Limited (CariCRIS) reaffirmed the Issuer/Corporate Credit Ratings assigned to Wigton Energy Limited (Wigton) at CariBBB+ (Local Currency Rating) on the regional rating scale, and jmA (Local Currency Rating) on the Jamaica national scale.
• The regional ratings indicate that the level of creditworthiness of Wigton, relative to other peers in the Caribbean, is ‘adequate’. However, the national scale rating indicates that the level of creditworthiness of Wigton relative to other peers in Jamaica is ‘good’.
• The ratings were driven by Wigton’s leading position as an independent renewable power producer in Jamaica, with business operations supported by long-term contracts. The company’s adequate operating efficiency, supported by well-maintained wind turbines, as well as good financial performance in FY2025, further underpins the ratings – notwithstanding a decline in profitability.
• Moreover, Wigton continues to present healthy liquidity and adequate debt servicing capability, despite some weakening, alongside a good corporate governance structure and robust risk management practices. Notwithstanding these rating strengths, Wigton’s revenue remains highly vulnerable to wind variability and the vagaries of nature. The ratings are further constrained by the lack of government support and protective legislation for local renewable energy producers.
• CariCRIS also maintained a stable outlook on the ratings for Wigton. The stable outlook is based on the high likelihood that Wigton will remain profitable over the next 12 to 15 months, notwithstanding the temporary operational and economic disruptions caused by Hurricane Melissa. This is underpinned by its core wind energy operations, strategic diversification into solar energy generation and strong insurance coverage, which are collectively expected to support its operational resilience and revenues over the period.
• Additionally, CariCRIS expects Wigton to meet all debt service commitments in a timely manner. That said, the agency noted that it will continue to closely monitor the evolving impact of Hurricane Melissa on Wigton’s operations and credit profile over the coming months.

(Source: CariCRIS)