On September 20, 2024, CariCRIS assigned Issuer/Corporate Credit ratings of CariAA- (Foreign and Local Currency Ratings) on the regional scale and ttAA- (Local Currency Ratings) on the Trinidad and Tobago national scale to the Trinidad and Tobago Mortgage Bank Limited (TTMB or the Company). 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:
- An improvement in the credit rating of the sovereign over the next 12-15 months
- A 50% or greater decrease in funding costs over the next 12 months, resulting in a material expansion in the net interest spread by over 300 basis points.
- Improvement in net interest spread to > 4.8%, sustained over a 3-year period
Factors that could, individually or collectively, lead to a lowering of the ratings/or outlook include:
- A deterioration in the credit rating of the sovereign over the next 12-15 months
- A rise in the cost to income ratio to 59% or greater
- A sustained increase in funding costs by 100 basis points or greater over the next 12 months, resulting in a material contraction in net interest spreads by over 200 basis points
- A material reduction (50% or greater) in or complete withdrawal of subsidized funding from Government of the Republic of Trinidad and Tobago (GORTT).
- NPL/Gross Loans greater than 8% for 2 consecutive years
Analysts’ Contact Info:
Anelia Oudit
Mobile : 1-868-487-8364
[email protected]
Jeffrey James
Mobile : 1-868-713-5987
[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.