{"id":1834,"date":"2024-07-10T17:39:14","date_gmt":"2024-07-10T21:39:14","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1834"},"modified":"2025-04-29T17:40:03","modified_gmt":"2025-04-29T21:40:03","slug":"development-bank-of-jamaica-limited-2","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-2\/","title":{"rendered":"Development Bank of Jamaica Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p>On June 28, 2024, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings at <em>Cari<\/em><strong>A<\/strong> (Local Currency Rating) and <em>Cari<\/em><strong>A- <\/strong>(Foreign Currency Rating) on the regional scale and <em>jm<\/em><strong>AA<\/strong> (Local Currency Rating) and <em>jm<\/em><strong>AA- <\/strong>(Foreign Currency Rating) on the Jamaica national scale to the <strong>Development Bank of Jamaica Limited (DBJ or the Bank). <\/strong>A stable outlook was assigned.<strong>\u00a0<\/strong><\/p>\n<p class=\"badge\"><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 uplift in the creditworthiness of Jamaica, where DBJ derives 100% of its revenue, with an attendant improvement in business prospects for DBJ as well as improved profitability and loan portfolio quality<\/li>\n<li data-mce-word-list=\"1\">Improving business conditions over the next 12-15 months, thereby leading to growth in client base and sustained earnings growth<\/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 reduction in funding by more than 25%<\/li>\n<li data-mce-word-list=\"1\">Interest rate spread falls by more than 150 basis points (bps)<\/li>\n<li data-mce-word-list=\"1\">A lowering of the creditworthiness of Jamaica<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Analysts\u2019 Contact Info:<\/strong><\/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>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><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 June 28, 2024, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings at CariA (Local Currency Rating) and CariA- (Foreign Currency Rating) on the regional scale and jmAA (Local Currency Rating) and jmAA- (Foreign Currency Rating) on the Jamaica national scale to the Development Bank of Jamaica Limited (DBJ or the Bank). A stable [&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-1834","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>Development Bank of Jamaica 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\/development-bank-of-jamaica-limited-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Development Bank of Jamaica Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On June 28, 2024, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings at CariA (Local Currency Rating) and CariA- (Foreign Currency Rating) on the regional scale and jmAA (Local Currency Rating) and jmAA- (Foreign Currency Rating) on the Jamaica national scale to the Development Bank of Jamaica Limited (DBJ or the Bank). 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