{"id":2614,"date":"2022-09-08T17:34:52","date_gmt":"2022-09-08T21:34:52","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2614"},"modified":"2025-06-29T17:35:56","modified_gmt":"2025-06-29T21:35:56","slug":"development-bank-of-jamaica-limited-5","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/development-bank-of-jamaica-limited-5\/","title":{"rendered":"Development Bank of Jamaica Limited"},"content":{"rendered":"<h2><strong>RATING ACTION:<\/strong><\/h2>\n<p style=\"text-align: justify;\">On August 30, 2022, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings at <em>Cari<\/em><strong>BBB+<\/strong> (Foreign Currency Rating) and <em>Cari<\/em><strong>A- <\/strong>(Local Currency Rating) on the regional scale and <em>jm<\/em><strong>AA<\/strong> (Local Currency Rating) and <em>jm<\/em><strong>AA- <\/strong>(Foreign Currency Rating) on the Jamaica national scale to the US $5 million debt issue of <strong>Development Bank of Jamaica Limited (DBJ or the bank). <\/strong>A stable outlook was maintained.<\/p>\n<p class=\"badge\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/p>\n<p><strong>Factors that could, individually or collectively, lead to an improvement in the ratings and \/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li style=\"text-align: justify;\" data-mce-word-list=\"1\">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<\/li>\n<li style=\"text-align: justify;\" data-mce-word-list=\"1\">Improving business conditions over the next 12-15 months, thereby leading to growth in client base and sustained earnings growth<\/li>\n<\/ul>\n<p><strong>Factors that could, individually or collectively, lead to a lowering of the ratings\/or outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li style=\"text-align: justify;\" data-mce-word-list=\"1\">A reduction in funding by more than 25%<\/li>\n<li style=\"text-align: justify;\" data-mce-word-list=\"1\">Interest rate spread falls by more than 150 bps<\/li>\n<li style=\"text-align: justify;\" data-mce-word-list=\"1\">A lowering of the creditworthiness of Jamaica<\/li>\n<\/ul>\n<p><strong>Analysts\u2019 Contact Info:<\/strong><\/p>\n<p>Anelia Oudit<\/p>\n<p>Mobile : 1-868-487-8364<\/p>\n<p><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a><\/p>\n<p>Kyla Balwant<\/p>\n<p><a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a><\/p>\n<p><a href=\"http:\/\/www.caricris.com\"><strong>www.caricris.com<\/strong><\/a><strong>\u00a0 <\/strong><\/p>\n<p><strong><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On August 30, 2022, CariCRIS reaffirmed the assigned Issuer\/Corporate Credit ratings at CariBBB+ (Foreign Currency Rating) and CariA- (Local Currency Rating) on the regional scale and jmAA (Local Currency Rating) and jmAA- (Foreign Currency Rating) on the Jamaica national scale to the US $5 million debt issue of Development Bank of Jamaica Limited [&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-2614","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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