RATING ACTION:
On June 28, 2024, CariCRIS reaffirmed the Issuer/Corporate Credit ratings assigned to Eastern Caribbean Home Mortgage Bank (ECHMB or the Company) at CariA- (Foreign and Local Currency Ratings) on the regional rating scale. A stable outlook was maintained.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the ratings and/or outlook include:
- An increase in net interest spread to at least 2% sustained for 3 financial years
- Further diversity in income streams through the successful launch of new products, investments, and services
- A greater than 20% improvement in Profit After Tax (PAT) for 2 consecutive years.
- An increase in Tangible Net Worth (TNW) by 15% sustained for 3 financial years
- Further diversity in funding to include sources from outside of the Organization of Eastern Caribbean States (OECS)
Factors that could, individually or collectively, lead to a lowering of the ratings and/or outlook include:
- A tightening of net interest spread to below 1%
- A deterioration in PAT by more than 20% for 2 consecutive years
- TNW to Total Assets below 12%
Analysts’ Contact Info:
Keith Hamlet
Mobile: 1-868-487-8356
[email protected]
Rudra Bhimsingh
[email protected]
www.caricris.com
[email protected]
Disclaimer: CariCRIS has taken due care and caution in 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.