{"id":1948,"date":"2023-09-29T18:36:53","date_gmt":"2023-09-29T22:36:53","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1948"},"modified":"2025-05-03T18:38:00","modified_gmt":"2025-05-03T22:38:00","slug":"trinidad-and-tobago-mortgage-finance-company-limited","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/trinidad-and-tobago-mortgage-finance-company-limited\/","title":{"rendered":"Trinidad and Tobago Mortgage Finance Company Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On September 14, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of <em>Cari<\/em><strong>A+<\/strong> (Foreign and Local Currency Ratings) on the regional scale and <em>tt<\/em><strong>A+<\/strong> (Local Currency Ratings) on the Trinidad and Tobago national scale to the <strong>Trinidad and Tobago Mortgage Company Limited (TTMF or the Company). <\/strong>A stable outlook was maintained.<\/span><\/p>\n<p class=\"badge\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>\u00a0<\/strong><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><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An improvement in the credit rating of the sovereign over the next 12-15 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">The advancement of the proposed merger over the next 12 months which will lower the funding costs and introduce new products<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Successful completion of housing projects over the next 12 months which would sustainably grow TTMF\u2019s subsidized mortgage portfolio<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><span style=\"font-family: 'book antiqua', palatino;\"><strong>Factors that could, individually or collectively, lead to a lowering of the ratings\/or outlook include:<\/strong><\/span><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A deterioration in the credit rating of the sovereign over the next 12-15 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A rise in the cost to income ratio to 55% or greater<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A sustained increase in funding costs by 100 basis points or greater over the next 12 months, resulting in a material contraction in net interest spreads by over 200 basis points<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A material reduction (50% or greater) in or complete withdrawal of subsidized funding from Government of the Republic of Trinidad and Tobago (GORTT).<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">NPL\/Gross Loans greater than 8% for 2 consecutive<\/span> years<\/li>\n<\/ul>\n<p><strong>Analysts\u2019 Contact Info:<\/strong><\/p>\n<h5><span style=\"font-size: 8pt;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\">Mobile : 1-868-487-8364<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a><\/span><\/p>\n<h5><span style=\"font-size: 8pt;\">Melvyn Baptiste<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:mbaptiste@caricris.com\">mbaptiste@caricris.com<\/a> \u00a0\u00a0\u00a0<\/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>\u00a0<\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On September 14, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of CariA+ (Foreign and Local Currency Ratings) on the regional scale and ttA+ (Local Currency Ratings) on the Trinidad and Tobago national scale to the Trinidad and Tobago Mortgage Company Limited (TTMF or the Company). A stable outlook was maintained. RATING SENSITIVITY [&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-1948","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>Trinidad and Tobago Mortgage Finance Company 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\/trinidad-and-tobago-mortgage-finance-company-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trinidad and Tobago Mortgage Finance Company Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On September 14, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of CariA+ (Foreign and Local Currency Ratings) on the regional scale and ttA+ (Local Currency Ratings) on the Trinidad and Tobago national scale to the Trinidad and Tobago Mortgage Company Limited (TTMF or the Company). A stable outlook was maintained. 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