{"id":1991,"date":"2023-05-05T19:38:43","date_gmt":"2023-05-05T23:38:43","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=1991"},"modified":"2025-05-05T19:39:18","modified_gmt":"2025-05-05T23:39:18","slug":"development-finance-limited-5","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-finance-limited-5\/","title":{"rendered":"Development Finance Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-size: 10pt;\"><span style=\"font-family: 'book antiqua', palatino;\">On April 28, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of<\/span> <em>Cari<\/em><strong>AA-<\/strong> (Local Currency Rating) on the regional scale and <em>tt<\/em><strong>AA-<\/strong> (Local Currency Rating) on the Trinidad and Tobago (T&amp;T) national scale to the TT $63.3 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>\u00a0<\/strong><strong>RATING SENSITIVITY FACTORS:<\/strong><\/p>\n<p><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><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Improvement in the credit ratings of the GORTT<\/span><\/li>\n<\/ul>\n<p><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><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Material impairment in any of the underlying securitiest:8-627-8879 Ext. 229<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">-operative Bank:l claims pertaining to the content of the book.umber of pages and availability of p<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Substantial deterioration in the financial performance and position of DFL<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Downgrade in the ratings of the GORTT<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Breaches to any of the bond\u2019s covenants<\/span><\/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><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Mobile : 1-868-487-8364<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\">Kyla Balwant<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a>\u00a0\u00a0<\/span><\/p>\n<p><span style=\"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-family: 'book antiqua', palatino;\"><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 April 28, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of CariAA- (Local Currency Rating) on the regional scale and ttAA- (Local Currency Rating) on the Trinidad and Tobago (T&amp;T) national scale to the TT $63.3 million bond issue of Development Finance Limited (DFL or the Company). A stable outlook was assigned. [&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-1991","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-5\/\" \/>\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 April 28, 2023, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings of CariAA- (Local Currency Rating) on the regional scale and ttAA- (Local Currency Rating) on the Trinidad and Tobago (T&amp;T) national scale to the TT $63.3 million bond issue of Development Finance Limited (DFL or the Company). A stable outlook was assigned. 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