{"id":1870,"date":"2025-04-09T18:37:04","date_gmt":"2025-04-09T22:37:04","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1870"},"modified":"2025-04-30T18:39:49","modified_gmt":"2025-04-30T22:39:49","slug":"the-jamaica-national-group-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/the-jamaica-national-group-limited-3\/","title":{"rendered":"The Jamaica National Group Limited"},"content":{"rendered":"

RATING ACTION:<\/h2>\n

On March 12, 2024, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings CariBBB+ (Foreign Currency Rating) and CariA- (Local Currency Rating) on its regional rating scale and jmA+ (Foreign Currency Rating) and jmAA- (Local Currency Rating) on its Jamaica national scale to The Jamaica National Group Limited (or the Holding Company). The outlook was revised to negative from stable.<\/span><\/p>\n

RATING SENSITIVITY FACTORS:<\/span><\/p>\n

Factors that could, individually or collectively, lead to an improvement in the ratings and\/or outlook include:<\/span>
\n\u2022 Expansion of the Group\u2019s product and service offerings and\/or improvements in operating efficiencies, leading to a sustained PAT for 2 years<\/span>
\n\u2022 Improvement in the credit rating of the Government of Jamaica, leading to an improved sovereign risk profile<\/span>
\n\u2022 Improvement in the Group\u2019s cost-to-income ratio to 65% or below for at least 2 consecutive years<\/span>
\n\u2022 Improvement in the Group\u2019s NPLs to gross loans to below 2.8%<\/span>
\n\u2022 Improvement in the Group\u2019s TNW to total adjusted assets to 20% or above<\/span><\/p>\n

Factors that could, individually or collectively, lead to a lowering of the ratings and\/or outlook include:<\/span>
\n\u2022 A greater than 10% decline in the Group\u2019s total income for 2 consecutive years<\/span>
\n\u2022 Deterioration in the credit rating of the Government of Jamaica, leading to a worsened sovereign risk profile<\/span>
\n\u2022 Deterioration in the Group\u2019s TNW to total adjusted assets to 8% or below<\/span>
\n\u2022 Deterioration of any of the Group\u2019s subsidiaries\u2019 capital adequacy ratios below regulatory requirements<\/span>
\n\u2022 Deterioration in the Group\u2019s cost-to-income ratio to 100% or above<\/span>
\n\u2022 An increase in the Company\u2019s gearing ratio to above 3 times<\/span>
\n\u2022 The Group\u2019s NPL ratio remaining above 4.5% over the next year<\/span><\/p>\n

Analysts\u2019 Contact Info:<\/strong><\/p>\n

Keith Hamlet
\nMobile: 1-868-487-8356
\nkhamlet@caricris.com<\/a><\/p>\n

Maxwell Gooding
\nmgooding@caricris.com<\/a><\/p>\n

www.caricris.com
\ninfo@caricris.com<\/a><\/p>\n

Disclaimer: 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","protected":false},"excerpt":{"rendered":"

RATING ACTION: On March 12, 2024, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings CariBBB+ (Foreign Currency Rating) and CariA- (Local Currency Rating) on its regional rating scale and jmA+ (Foreign Currency Rating) and jmAA- (Local Currency Rating) on its Jamaica national scale to The Jamaica National Group Limited (or the Holding Company). The outlook was revised […]<\/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-1870","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"\nThe Jamaica National Group 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\/the-jamaica-national-group-limited-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Jamaica National Group Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On March 12, 2024, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings CariBBB+ (Foreign Currency Rating) and CariA- (Local Currency Rating) on its regional rating scale and jmA+ (Foreign Currency Rating) and jmAA- (Local Currency Rating) on its Jamaica national scale to The Jamaica National Group Limited (or the Holding Company). 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