RATING ACTION:
On November 14, 2023, CariCRIS upgraded the Issuer/Corporate Credit ratings assigned to NCB Capital Markets (Barbados) Limited (NCB Barbados, NCBCMBL or the Company) by 1 notch to CariBBB+ (Foreign and Local Currency Ratings) on its regional rating scale. A stable outlook was assigned.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the ratings and/or outlook include:
- Improvements in the credit risk profiles of the Government of Jamaica and/or the Government of Barbados
- Improvement in profitability over the next 12 to 15 months supported by earnings from the Eastern Caribbean region
- Successful roll-out of new services leading to further diversity in income-earning capability
- An improvement in the TNW to total assets ratio to 18%
Factors that could, individually or collectively, lead to a lowering of the ratings and/or outlook include:
- Significant deterioration in the credit risk profiles of the Government of Jamaica and/or the Government of Barbados
- Deterioration in ROEA to below 1% sustained for 2 financial years
- Deterioration in ROE to below 15% sustained for 2 financial years
- Deterioration in the TNW to total assets ratio to below 10%
- Deterioration in the ratio of total earning assets to interest-bearing liabilities to below 1 time
Analysts’ Contact Info:
Keith Hamlet
Mobile: 1-868-487-8356
Megan Dass
Mobile: 1-868-487-8356