Poly Pet outlook cut as bottle maker faces first bond repayments

Jamaica’s largest plastic bottle manufacturer has had the outlook on its $800-million bond lowered to negative by regional ratings agency CariCRIS, which warned that Poly Pet Company Limited may not have the cash in hand when quarterly principal payments fall due in March. The agency reaffirmed the issue credit rating at jmC on the Jamaica national scale, a grade it describes as poor, while shifting the outlook from stable.