{"id":1981,"date":"2023-06-26T19:09:41","date_gmt":"2023-06-26T23:09:41","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1981"},"modified":"2025-05-05T19:10:28","modified_gmt":"2025-05-05T23:10:28","slug":"bourse-securities-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/bourse-securities-limited-3\/","title":{"rendered":"Bourse Securities 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 Issuer\/Corporate Credit ratings assigned to <strong>Bourse Securities Limited (BSL or the Company)<\/strong> 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 Rating) on the Trinidad and Tobago national scale<strong>. <\/strong>A <strong>stable<\/strong> 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=\"text-decoration: underline; font-family: 'book antiqua', palatino;\"><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\"><span style=\"font-family: 'book antiqua', palatino;\">Improving business conditions and company performance resulting in an increase in Profit After Tax (PAT) by 15% sustained for 3 financial periods<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An increase in net interest spread to at least 2% sustained for 3 financial periods<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An increase in Tangible Net Worth (TNW) by 15% sustained for 3 financial periods<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Further reduction in its funding concentration risk such that less than 40% of BSL\u2019s funding is derived from its top 10 clients sustained for 2 financial periods.<\/span><\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering of the ratings and\/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-family: 'book antiqua', palatino;\">A deterioration in the credit rating of the sovereign over the next 12-15 months leading to increased liquidity pressures<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Funding withdrawals from its top 3 institutional investors<\/span><\/li>\n<\/ul>\n<h5><strong>Analysts\u2019 Contact Info:<\/strong><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Keith Hamlet<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Mobile: 1-868-487-8356<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:khamlet@caricris.com\">khamlet@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\">Megan Dass<\/span><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:mdass@caricris.com\">mdass@caricris.com<\/a> \u00a0\u00a0\u00a0\u00a0<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\"><a href=\"http:\/\/www.caricris.com\">www.caricris.com<\/a> \u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/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 Issuer\/Corporate Credit ratings assigned to Bourse Securities Limited (BSL or the Company) of CariA (Foreign and Local Currency Ratings) on the regional scale and ttA (Local Currency Rating) on the Trinidad and Tobago national scale. A stable outlook was maintained. RATING SENSITIVITY FACTORS: Factors that could, [&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-1981","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>Bourse Securities 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\/bourse-securities-limited-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bourse Securities Limited - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings assigned to Bourse Securities Limited (BSL or the Company) of CariA (Foreign and Local Currency Ratings) on the regional scale and ttA (Local Currency Rating) on the Trinidad and Tobago national scale. A stable outlook was maintained. RATING SENSITIVITY FACTORS: Factors that could, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/bourse-securities-limited-3\/\" \/>\n<meta property=\"og:site_name\" content=\"CariCRIS\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-26T23:09:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-05T23:10:28+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"headline\":\"Bourse Securities Limited\",\"datePublished\":\"2023-06-26T23:09:41+00:00\",\"dateModified\":\"2025-05-05T23:10:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/\"},\"wordCount\":315,\"commentCount\":0,\"articleSection\":[\"Rating Releases\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/\",\"name\":\"Bourse Securities Limited - CariCRIS\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\"},\"datePublished\":\"2023-06-26T23:09:41+00:00\",\"dateModified\":\"2025-05-05T23:10:28+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/bourse-securities-limited-3\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bourse Securities Limited\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\",\"name\":\"CariCRIS\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\",\"name\":\"admin\",\"sameAs\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\"],\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bourse Securities Limited - CariCRIS","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/bourse-securities-limited-3\/","og_locale":"en_US","og_type":"article","og_title":"Bourse Securities Limited - CariCRIS","og_description":"RATING ACTION: On June 15, 2023, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings assigned to Bourse Securities Limited (BSL or the Company) of CariA (Foreign and Local Currency Ratings) on the regional scale and ttA (Local Currency Rating) on the Trinidad and Tobago national scale. 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