The upgrade late Friday evening moves the previously Barbados-based financial institution, owned more than 50 per cent by Trinidad and Tobago investors, according to Sagicor Group chief operating officer Richard Kellman, up to “non-investment grade” from “highly speculative” grade. S&P Global Ratings raised its issue-level rating on Sagicor Finance Ltd’s US$320 million seven-year senior unsecured notes to “BB-” from “B”, saying in a statement: “We also removed the rating from Credit Watch positive, where we placed it in September 2016.”