{"id":1810,"date":"2024-10-01T17:14:59","date_gmt":"2024-10-01T21:14:59","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1810"},"modified":"2025-04-29T17:15:50","modified_gmt":"2025-04-29T21:15:50","slug":"access-financial-services-limited-afs","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/access-financial-services-limited-afs\/","title":{"rendered":"Access Financial Services Limited (AFS)"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p>On September 20, 2024 CariCRIS reaffirmed the assigned issuer\/corporate credit ratings of <em>Cari<\/em><strong>BBB-<\/strong> (Local Currency Rating) and <em>Cari<\/em><strong>BB+ <\/strong>(Foreign Currency Rating) on the regional rating scale, and <em>jm<\/em><strong>BBB+<\/strong> (Local Currency Rating) and <em>jm<\/em><strong>BBB<\/strong> (Foreign Currency Rating) on the Jamaica national scale for <strong>Access Financial Services Limited (AFS or the Group). <\/strong>A stable outlook was assigned.<\/p>\n<p class=\"badge\"><strong>\u00a0<\/strong><strong>RATING SENSITIVITY FACTORS:<\/strong><\/p>\n<p><strong>\u00a0<\/strong><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 data-mce-word-list=\"1\">An improvement in the credit risk profile of the Government of Jamaica<\/li>\n<li data-mce-word-list=\"1\">Improving business conditions over the next 12-15 months, thereby leading to growth in total asset base &gt; 18% and\/or sustained earnings growth &gt; 10% over the next 2 years<\/li>\n<li data-mce-word-list=\"1\">Diversity in revenue streams through the successful launch of new products or new business lines<\/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 data-mce-word-list=\"1\">A deterioration in the credit risk profile of the Government of Jamaica<\/li>\n<li data-mce-word-list=\"1\">Change in AFS\u2019 debt\/ TNW or TNW\/Total Assets ratios &gt; 1.5 times or &lt; 25% respectively<\/li>\n<li data-mce-word-list=\"1\">A sustained decrease in yield from interest earning assets &gt; 600 basis points over the next 12-15 months, thereby leading to a compression of the net interest spread earned<\/li>\n<li data-mce-word-list=\"1\">A fall in AFS\u2019 net loans and advances by more than 20%<\/li>\n<li data-mce-word-list=\"1\">A deterioration in AFS\u2019 Gross NPLs\/Gross Loans ratio to &gt; 8%<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Analysts\u2019 Contact Info:<\/strong><\/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>Kyla Balwant<br \/>\n<a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a><\/p>\n<p>www.caricris.com<br \/>\n<a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/p>\n<p><strong>Disclaimer:<\/strong> <span style=\"font-size: 8pt;\">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 September 20, 2024 CariCRIS reaffirmed the assigned issuer\/corporate credit ratings of CariBBB- (Local Currency Rating) and CariBB+ (Foreign Currency Rating) on the regional rating scale, and jmBBB+ (Local Currency Rating) and jmBBB (Foreign Currency Rating) on the Jamaica national scale for Access Financial Services Limited (AFS or the Group). 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-1810","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>Access Financial Services Limited (AFS) - 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\/access-financial-services-limited-afs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Access Financial Services Limited (AFS) - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On September 20, 2024 CariCRIS reaffirmed the assigned issuer\/corporate credit ratings of CariBBB- (Local Currency Rating) and CariBB+ (Foreign Currency Rating) on the regional rating scale, and jmBBB+ (Local Currency Rating) and jmBBB (Foreign Currency Rating) on the Jamaica national scale for Access Financial Services Limited (AFS or the Group). 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