RATING ACTION:
On August 11, 2023, CariCRIS reaffirmed the issuer/corporate credit ratings of CariAA (Foreign and Local Currency Ratings) on the regional rating scale, and ttAA on the Trinidad and Tobago (T&T) national scale for ANSA Merchant Bank Limited (AMBL Group). 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:
- Improvement in the credit rating of the Government of Trinidad and Tobago
- Successful acquisitions over the next 12 to 15 months with a concomitant material improvement in any of its main segments’ market share and AMBL Group’s overall financial performance
- Material improvement in the financial performance and position of ANSA McAL Limited
Factors that could, individually or collectively, lead to a lowering of the ratings/or outlook include:
- Another sustained year of losses
- A more than 30% increase in total operating expenses leading to a combined ratio in excess of 180% over the next year
- Downgrade in the rating of the Government of Trinidad and Tobago
- Material deterioration in the financial performance and position of ANSA McAL Limited
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
Jeffrey James