{"id":1747,"date":"2025-01-24T19:36:59","date_gmt":"2025-01-24T23:36:59","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1747"},"modified":"2025-04-24T19:39:57","modified_gmt":"2025-04-24T23:39:57","slug":"cornerstone-financial-holdings-limited-cfhl-2","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/cornerstone-financial-holdings-limited-cfhl-2\/","title":{"rendered":"Cornerstone Financial Holdings Limited (CFHL)"},"content":{"rendered":"<h2>RATING ACTION:<\/h2>\n<p>On December 5, 2024, CariCRIS reaffirmed the assigned issuer\/corporate credit ratings of CariBBB+ (Local Currency Rating) and Cari<strong>BBB<\/strong> (Foreign Currency Rating) on the regional rating scale, and jm<strong>A<\/strong> (Local Currency Rating) and jm<strong>A-<\/strong> (Foreign Currency Rating) on the Jamaica national scale for Cornerstone Financial Holdings Limited (CFHL or the Company). A stable 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 risk profile of the Government of Jamaica over the next 12-15 months.<\/li>\n<li>An improvement in the credit risk profile of BIL over the next 12-15 months<\/li>\n<li>Further diversity in revenue streams and asset class through the completion of its restructuring exercise<\/li>\n<li>Successful acquisitions over the next 12 to 15 months with a concomitant material improvement in the respective segment\u2019s market share.<\/li>\n<li>Further enhancements to its overall corporate governance structure inclusive of independent directors on the Board.<\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering of the ratings\/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>A deterioration in the credit risk profile of the Government of Jamaica.<\/li>\n<li>A deterioration in the credit risk profile of BIL over the next 12-15 months.<\/li>\n<li>A decline in the performance of BIL resulting in dividend income falling by more than 50% or fair value losses in excess of US $40 million<\/li>\n<li>Increase in the debt\/TNW and total debt to total assets ratios over the internal limits of 2 times and 75% respectively.<\/li>\n<li>Inability of CFHL\u2019s subsidiaries to meet any capital adequacy regulatory requirements in the Jamaica financial services industry following its re-organization exercise.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\"><strong>Analysts\u2019 Contact Info:<\/strong><\/span><\/p>\n<p>Anelia Oudit<br \/>\nMobile : 1-868-487-8364<br \/>\n<a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a><\/p>\n<p>Jeffrey James<br \/>\nMobile : 1-868-713-5987<br \/>\n<a href=\"mailto:jjames@caricris.com\">jjames@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. 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\u2019 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.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On December 5, 2024, CariCRIS reaffirmed the assigned issuer\/corporate credit ratings of CariBBB+ (Local Currency Rating) and CariBBB (Foreign Currency Rating) on the regional rating scale, and jmA (Local Currency Rating) and jmA- (Foreign Currency Rating) on the Jamaica national scale for Cornerstone Financial Holdings Limited (CFHL or the Company). A stable outlook [&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-1747","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>Cornerstone Financial Holdings Limited (CFHL) - 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\/cornerstone-financial-holdings-limited-cfhl-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cornerstone Financial Holdings Limited (CFHL) - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On December 5, 2024, CariCRIS reaffirmed the assigned issuer\/corporate credit ratings of CariBBB+ (Local Currency Rating) and CariBBB (Foreign Currency Rating) on the regional rating scale, and jmA (Local Currency Rating) and jmA- (Foreign Currency Rating) on the Jamaica national scale for Cornerstone Financial Holdings Limited (CFHL or the Company). 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