{"id":1985,"date":"2023-06-23T19:21:08","date_gmt":"2023-06-23T23:21:08","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1985"},"modified":"2025-05-05T19:21:51","modified_gmt":"2025-05-05T23:21:51","slug":"development-bank-of-jamaica-limited-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-3\/","title":{"rendered":"Development Bank of Jamaica Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On June 15, 2023, CariCRIS upgraded the assigned Issuer\/Corporate Credit ratings by 1-notch to <em>Cari<\/em><strong>A-<\/strong> (Foreign Currency Rating) and <em>Cari<\/em><strong>A <\/strong>(Local Currency Rating) on the regional scale and reaffirmed the Jamaica national scale ratings of <em>jm<\/em><strong>AA<\/strong> (Local Currency Rating) and <em>jm<\/em><strong>AA- <\/strong>(Foreign Currency Rating) to the US $5 million debt issue of <strong>Development Bank of Jamaica Limited (DBJ or the Bank). <\/strong>A stable outlook was assigned.<\/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;\"><span style=\"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><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An uplift in the creditworthiness of Jamaica, where DBJ derives 100% of its revenue, with an attendant improvement in business prospects for DBJ as well as improved profitability and loan portfolio quality<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Improving business conditions over the next 12-15 months, thereby leading to growth in client base and sustained earnings growth<\/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 reduction in funding by more than 25%<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Interest rate spread falls by more than 150 basis points (bps)<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A lowering of the creditworthiness of Jamaica<\/span><\/li>\n<\/ul>\n<h5><strong>Analysts\u2019 Contact Info:<\/strong><\/h5>\n<h5><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\">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> \u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-size: 8pt;\">Kyla Balwant<\/span><\/h5>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\"><a href=\"http:\/\/www.caricris.com\"><strong>www.caricris.com<\/strong><\/a><strong>\u00a0 <\/strong><\/span><\/p>\n<p><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\"><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong> <strong>\u00a0<\/strong><\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><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><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 15, 2023, CariCRIS upgraded the assigned Issuer\/Corporate Credit ratings by 1-notch to CariA- (Foreign Currency Rating) and CariA (Local Currency Rating) on the regional scale and reaffirmed the Jamaica national scale ratings of jmAA (Local Currency Rating) and jmAA- (Foreign Currency Rating) to the US $5 million debt issue of Development [&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-1985","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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