{"id":1832,"date":"2024-07-10T17:38:01","date_gmt":"2024-07-10T21:38:01","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1832"},"modified":"2025-04-29T17:39:09","modified_gmt":"2025-04-29T21:39:09","slug":"development-finance-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-finance-limited-3\/","title":{"rendered":"Development Finance Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><strong>\u00a0<\/strong>On June 28, 2024, CariCRIS reaffirmed the assigned issue ratings of\u00a0<em>Cari<\/em><strong>AA-<\/strong>\u00a0(Foreign and Local Currency Ratings) on the regional scale and\u00a0<em>tt<\/em><strong>AA-<\/strong>\u00a0(Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&amp;T) national scale to the TT $36 million bond issue of\u00a0<strong>Development Finance Limited (DFL or the Company).\u00a0<\/strong>A stable outlook was assigned.<\/p>\n<p class=\"badge\"><strong>\u00a0<\/strong><strong>RATING SENSITIVITY FACTORS:<\/strong><\/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>\n<li data-mce-word-list=\"1\">Improvement in the credit rating of the Government of the Republic of Trinidad and Tobago (GORTT)<\/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>\n<li data-mce-word-list=\"1\">Material impairment in any of the underlying securities<\/li>\n<li data-mce-word-list=\"1\">Substantial deterioration in the financial performance and position of DFL<\/li>\n<li data-mce-word-list=\"1\">Downgrade in the rating of the GORTT<\/li>\n<li data-mce-word-list=\"1\">Breaches to any of the bond\u2019s covenants<\/li>\n<li data-mce-word-list=\"1\">Breaches of covenants related to other long-term borrowing including limits related to non-performing loans<\/li>\n<li data-mce-word-list=\"1\">A fall in the bond\u2019s security coverage to below 1.0x<\/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>\u00a0CariCRIS has taken due care and caution in the 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.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: \u00a0On June 28, 2024, CariCRIS reaffirmed the assigned issue ratings of\u00a0CariAA-\u00a0(Foreign and Local Currency Ratings) on the regional scale and\u00a0ttAA-\u00a0(Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&amp;T) national scale to the TT $36 million bond issue of\u00a0Development Finance Limited (DFL or the Company).\u00a0A stable outlook was assigned. \u00a0RATING SENSITIVITY FACTORS: [&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-1832","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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