{"id":1977,"date":"2023-06-27T19:07:36","date_gmt":"2023-06-27T23:07:36","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1977"},"modified":"2025-05-05T19:08:26","modified_gmt":"2025-05-05T23:08:26","slug":"development-finance-limited-4","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-finance-limited-4\/","title":{"rendered":"Development Finance Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On June 15, 2023, CariCRIS reaffirmed the assigned issue ratings of <em>Cari<\/em><strong>AA-<\/strong> (Foreign and Local Currency Ratings) on the regional scale, and <em>tt<\/em><strong>AA-<\/strong> (Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&amp;T) national scale to the TT $36 million bond issue of <strong>Development Finance Limited (DFL or the Company). <\/strong>A stable 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 data-mce-word-list=\"1\">Improvement in the credit ratings of the GORTT<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong>Factors that could individually or collectively, lead to a lowering of the ratings and \/or outlook include:<\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\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\">Breach of covenants related to other long-term borrowings 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<h5><strong>Analysts\u2019 Contact Info:<\/strong><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Mobile : 1-868-487-8364<\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\"><strong><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a>\u00a0\u00a0\u00a0<\/strong><\/span><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Kyla Balwant<\/span><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino;\"><strong><a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a><br \/>\n<\/strong><\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino; 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;\"><span style=\"font-family: 'book antiqua', palatino;\"><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong><\/span> <strong>\u00a0<\/strong><\/span><\/p>\n<p><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\"><strong>Disclaimer<\/strong><strong>:<\/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.\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><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the assigned issue ratings of CariAA- (Foreign and Local Currency Ratings) on the regional scale, and ttAA- (Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&amp;T) national scale to the TT $36 million bond issue of Development Finance Limited (DFL or the Company). 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-1977","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 Finance 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-finance-limited-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Development Finance Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the assigned issue ratings of CariAA- (Foreign and Local Currency Ratings) on the regional scale, and ttAA- (Foreign and Local Currency Ratings) on the Trinidad and Tobago (T&amp;T) national scale to the TT $36 million bond issue of Development Finance Limited (DFL or the Company). 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