RATING ACTION:
On June 13, 2025, CariCRIS reaffirmed the assigned issue ratings of CariAA- (Foreign and Local Currency Ratings) on the regional scale and ttAA- (Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&T) national scale to the TT $36 million bond issue of Development Finance Limited (Development Finance). 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 the Republic of Trinidad and Tobago (GORTT)
Factors that could, individually or collectively, lead to a lowering of the Ratings and/ or Outlook include:
- Material impairment in any of the underlying securities
- Substantial deterioration in the financial performance and position of Development Finance
- Downgrade in the rating of the GORTT
- Breaches to any of the bond’s covenants
- Breach of covenants related to other long-term borrowings including limits related to non-performing loans
- A fall in the bond’s security coverage to below 1.0X
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
[email protected]
Kyla Balwant
Mobile : 1-868-682-9919
[email protected]
www.caricris.com
[email protected]
[email protected]
Disclaimer: CariCRIS has taken due care and caution in the compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published / reproduced in any form without CariCRIS’ prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this product.