RATING ACTION:
On September 15, 2022, CariCRIS reaffirmed the Issuer/Corporate Credit ratings CariBBB (Foreign and Local Currency Ratings) on its regional rating scale assigned to NCB Capital Markets (Barbados) Limited (NCB Barbados, NCBCMBL or the Company). 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:
- 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 the Government of Barbados
- Deterioration in ROA 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