{"id":1744,"date":"2025-01-27T19:33:21","date_gmt":"2025-01-27T23:33:21","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1744"},"modified":"2025-04-24T19:33:40","modified_gmt":"2025-04-24T23:33:40","slug":"barita-investments-limited-2","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/barita-investments-limited-2\/","title":{"rendered":"Barita Investments Limited"},"content":{"rendered":"<h2>RATING ACTION:<\/h2>\n<p>On December 5, 2024, CariCRIS assigned Initial Issuer\/Corporate Credit Ratings to <strong>Barita Investments Limited<\/strong> <strong>(Barita or the Compan<\/strong>y) at <em>Cari<\/em><strong>BBB+<\/strong> (Foreign Currency Rating) and <em>Cari<\/em><strong>A-<\/strong> (Local Currency Rating) on the regional rating scale, and <em>jm<\/em><strong>A<\/strong> (Foreign Currency Rating) and jmA+ (Local Currency Rating) on the Jamaica national rating scale. A <strong>stable<\/strong> outlook was assigned.<\/p>\n<p><span class=\"badge\">RATING SENSITIVITY FACTORS:<\/span><\/p>\n<p><strong>Factors that could, individually or collectively, lead to an improvement in the Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>An improvement in the credit rating of the Government of Jamaica (GoJ)<\/li>\n<li>Growth in profit after tax (PAT) of 15% or more for 3 consecutive years without material adverse impacts on regulatory capital ratios<\/li>\n<li>Growth in tangible net worth (TNW) by greater than 10% for 3 consecutive years<\/li>\n<li>At least 30% of the Board of Directors independent of the Group\u2019s Board<\/li>\n<li>Further expansion and diversification of Barita through regional expansion<\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering of the Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>A lowering of the credit rating of the GoJ<\/li>\n<li>Deterioration of the capital adequacy ratio (CAR) below the specific regulatory requirement sustained for a period of 6 months<\/li>\n<li>Cost to Income ratio weakens to 75% or over<\/li>\n<li>Deterioration in TNW to Total Assets ratio to 20% or less sustained for 3 consecutive years<\/li>\n<li>Deterioration in the average credit rating of arita\u2019s fixed-income portfolio by 2 notches for 3 financial periods<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Analysts\u2019 Cntact Info:<\/strong><\/span><\/p>\n<p>Keith Hamlet<br \/>\nMobile: 1-868-487-8356<br \/>\n<a href=\"mailto:khamlet@caricris.com\">khamlet@caricris.com<\/a><\/p>\n<p>Megan Dass<br \/>\nMobile: 1-868-713-6863<br \/>\n<a href=\"mailto:mdass@caricris.com\">mdass@caricris.com<\/a><\/p>\n<p>www.caricris.com<br \/>\n<a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/p>\n<p><span style=\"font-size: 8pt;\"><strong>Disclaimer:<\/strong> 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.\u00a0 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.\u00a0 No part of this report may be published \/ reproduced in any form without CariCRIS\u2019 prior written approval.\u00a0 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.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On December 5, 2024, CariCRIS assigned Initial Issuer\/Corporate Credit Ratings to Barita Investments Limited (Barita or the Company) at CariBBB+ (Foreign Currency Rating) and CariA- (Local Currency Rating) on the regional rating scale, and jmA (Foreign Currency Rating) and jmA+ (Local Currency Rating) on the Jamaica national rating scale. A stable outlook was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-1744","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Barita Investments Limited - CariCRIS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/barita-investments-limited-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barita Investments Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On December 5, 2024, CariCRIS assigned Initial Issuer\/Corporate Credit Ratings to Barita Investments Limited (Barita or the Company) at CariBBB+ (Foreign Currency Rating) and CariA- (Local Currency Rating) on the regional rating scale, and jmA (Foreign Currency Rating) and jmA+ (Local Currency Rating) on the Jamaica national rating scale. 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