{"id":1904,"date":"2023-12-08T19:29:16","date_gmt":"2023-12-08T23:29:16","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1904"},"modified":"2025-04-30T19:30:03","modified_gmt":"2025-04-30T23:30:03","slug":"jmmb-group-ltd","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/jmmb-group-ltd\/","title":{"rendered":"JMMB Group Ltd"},"content":{"rendered":"<h2>RATING ACTION:<\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On November 7, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit Ratings of <em>Car<\/em>i<strong>A<\/strong>&#8211; (Regional Local Currency) and <em>Cari<\/em><strong>BBB+<\/strong> (Regional Foreign Currency) and <em>jm<\/em><strong>AA-<\/strong> (Local Currency) and <em>jm<\/em><strong>A+ <\/strong>(Foreign Currency) on the Jamaica national scale for <strong>JMMB Group Limited. <\/strong>A<strong> stable<\/strong> outlook was assigned.<\/span><\/p>\n<p class=\"badge\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Factors that could, individually or collectively, lead to an improvement in the ratings and \/or outlook include:<\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-family: 'book antiqua', palatino;\">Improvement in the Government of Jamaica\u2019s (GOJ) credit rating, reflecting a more favourable business environment for the Group<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Growth in PAT of 15% or more for 3 consecutive years without any adverse impacts on regulatory capital ratios<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Growth in TNW by greater than 15% for 3 consecutive years<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Regional expansion initiatives that lead to an improvement in the Group\u2019s market position in its key business segments<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong>Factors that could, individually or collectively, lead to a lowering of the ratings\/or outlook include:<\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Deterioration of the NPLs to Gross loans ratio to 8% or more<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Deterioration of the CAR of any of the Group\u2019s subsidiaries to below the country specific regulatory requirements<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Cost to Income ratio weakens to 75% and over<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Further deterioration in PAT by 15% or more for another consecutive year<\/span><\/li>\n<\/ul>\n<h4><strong>Analysts\u2019 Contact Info<\/strong><\/h4>\n<h5><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\">Keith Hamlet<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\">Mobile : 1-868-487-4356<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:khamlet@caricris.com\">khamlet@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\"><strong>Sultan Mohammed<\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Mobile: 1-868-362-7304<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\"><a href=\"mailto:smohammed@caricris.com\">smohammed@caricris.com<\/a><\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"http:\/\/www.caricris.com\"><strong>www.caricris.com<\/strong><\/a><strong>\u00a0 <\/strong><\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong> <strong><br \/>\n<\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-family: 'book antiqua', palatino;\"><strong>Disclaimer<\/strong><strong>:<\/strong> CariCRIS 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.\u00a0 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.\u00a0 No part of this report may be published\/reproduced in any form without CariCRIS\u2019 prior written approval.\u00a0 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><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On November 7, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit Ratings of CariA&#8211; (Regional Local Currency) and CariBBB+ (Regional Foreign Currency) and jmAA- (Local Currency) and jmA+ (Foreign Currency) on the Jamaica national scale for JMMB Group Limited. A stable outlook was assigned. RATING SENSITIVITY FACTORS: Factors that could, individually or collectively, lead [&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-1904","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>JMMB Group Ltd - 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\/jmmb-group-ltd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JMMB Group Ltd - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On November 7, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit Ratings of CariA&#8211; (Regional Local Currency) and CariBBB+ (Regional Foreign Currency) and jmAA- (Local Currency) and jmA+ (Foreign Currency) on the Jamaica national scale for JMMB Group Limited. A stable outlook was assigned. 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