{"id":2630,"date":"2022-08-29T18:31:23","date_gmt":"2022-08-29T22:31:23","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2630"},"modified":"2025-07-02T12:15:31","modified_gmt":"2025-07-02T16:15:31","slug":"dominica-agricultural-industrial-and-development-bank-5","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/dominica-agricultural-industrial-and-development-bank-5\/","title":{"rendered":"Dominica Agricultural, Industrial and  Development Bank"},"content":{"rendered":"<p class=\"badge\">RATING ACTION:<\/p>\n<p><span style=\"font-size: 12pt; font-family: 'book antiqua', palatino;\"><span style=\"font-size: 10pt;\">On June 15, 2022, CariCRIS has reaffirmed the ratings currently assigned to the US $10 Million debt issue (notional) of Dominica Agricultural, Industrial and Development Bank (DAID or the Bank) at<\/span> <em>Cari<\/em><strong>B<\/strong> (Foreign and Local Currency Ratings) on the regional rating scale<strong>. <\/strong>A <strong>stable<\/strong> outlook was assigned.<\/span><\/p>\n<p class=\"badge\">RATING SENSITIVITY FACTORS:<\/p>\n<p><span style=\"font-size: 10pt;\"><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><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\">An upgrade to the sovereign credit rating of the GOCD<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Improvement in the NPL ratio to less than 16%<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Adherence to the EIB\u2019s revised financial covenants<\/span><\/li>\n<li><span style=\"font-family: 'book antiqua', palatino;\">Sustained profitable operations for more than 2 financial periods<\/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; font-size: 10pt;\">A change in the sovereign credit rating of the GOCD<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Sustained NPL ratio of 45% or more over for the next 12 \u2013 15 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Further delay in the full implementation of the Bank\u2019s Enterprise Risk Management Framework<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Any loss of major funding lines without identification of a suitable alternative<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A decline in TNW coverage of net NPLs to less than 1 time over the next 12 \u2013 15 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A fall in the Bank\u2019s capital adequacy ratio to less than 25% over the next 12 \u2013 15 months<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\"><strong>RATING RATIONALE<\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed the assigned ratings to the US $10 million debt issue (notional) of the Dominica Agricultural, Industrial and Development Bank (DAID or the Bank) to <em>Cari<\/em><strong>B<\/strong> (Foreign and Local Currency Ratings) on the regional rating scale. These ratings indicate that the level of creditworthiness of this notional debt obligation, adjudged in relation to other debt obligations in the Caribbean is<strong> weak. <\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">CariCRIS has maintained a <strong>stable<\/strong> outlook on the ratings<strong>. <\/strong>The stable outlook is based on our expectation that there will be continued improvements in the Bank\u2019s asset quality. The improvement is underpinned by the gradual easing of COVID-19 related movement restrictions in the Commonwealth of Dominica and an associated improvement in economic activity. This is expected to result in the Bank\u2019s improved financial performance and improved asset quality. Additionally, the level of support that is being provided to the Bank through its Government shareholding and supportive lenders also supports the outlook.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>Analysts\u2019 Contact Info:<\/strong><\/span><\/p>\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\u00a0<\/span><\/p>\n<h5><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\">Khadine Tavares<\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><a href=\"mailto:ktavares@caricris.com\">ktavares@caricris.com<\/a><\/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> <\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\"><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<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 15, 2022, CariCRIS has reaffirmed the ratings currently assigned to the US $10 Million debt issue (notional) of Dominica Agricultural, Industrial and Development Bank (DAID or the Bank) at CariB (Foreign and Local Currency Ratings) on the regional rating scale. A stable outlook was assigned. 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-2630","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>Dominica Agricultural, Industrial and Development Bank - 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\/dominica-agricultural-industrial-and-development-bank-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dominica Agricultural, Industrial and Development Bank - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING ACTION: On June 15, 2022, CariCRIS has reaffirmed the ratings currently assigned to the US $10 Million debt issue (notional) of Dominica Agricultural, Industrial and Development Bank (DAID or the Bank) at CariB (Foreign and Local Currency Ratings) on the regional rating scale. A stable outlook was assigned. 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