{"id":3265,"date":"2025-07-17T09:08:14","date_gmt":"2025-07-17T13:08:14","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=3265"},"modified":"2025-08-02T09:15:00","modified_gmt":"2025-08-02T13:15:00","slug":"bourse-securities-limited-9","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/bourse-securities-limited-9\/","title":{"rendered":"Bourse Securities Limited"},"content":{"rendered":"<p class=\"badge\"><strong>RATING ACTION:<\/strong><\/p>\n<p>On June 13, 2025, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings assigned to <strong>Bourse Securities Limited (BSL or the Company)<\/strong> at <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.<\/p>\n<p><a href=\"https:\/\/craftedcaribbean.com\/caricris\/rating\/rating-bourse-securities-limited\/\">Download Full Rating Rationale<\/a><\/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\u00a0Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>An increase in ROEA to at least 2.5% sustained for 3 financial years<\/li>\n<li>An increase in net interest spread to at least 2% sustained for 3 financial years<\/li>\n<li>An increase in Tangible Net Worth (TNW) to Total Assets to at least 28% sustained for 3 financial years<\/li>\n<li>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 years<\/li>\n<\/ul>\n<p><strong>A fiscal surplus of more than 5% of GDP recorded for 2 consecutive fiscal periodsFactors that could, individually or collectively, lead to a lowering\u00a0<\/strong><strong>of the Ratings and\/ or Outlook include:<\/strong><\/p>\n<ul style=\"list-style-type: disc;\">\n<li>A deterioration in the credit rating of the sovereign over the next 12 to 15 months<\/li>\n<li>A decline in ROEA to 2.5% sustained for 2 financial years<\/li>\n<li>Untimely responses to regulatory\/legislative changes<\/li>\n<li>Funding withdrawals from its top 3 institutional investors without adequate replacements<\/li>\n<\/ul>\n<div><\/div>\n<div><span style=\"font-size: 12pt;\"><strong>Analysts\u2019 Contact Info:<\/strong><\/span><\/div>\n<div><\/div>\n<div>\n<p>Keith Hamlet<br \/>\nMobile: 1-868-487-8356<br \/>\n<a href=\"mailto:khamlet@caricris.com\">khamlet@caricris.com<\/a><\/p>\n<p>Shabanna Seetaram<br \/>\n<a href=\"mailto:sseetaram@caricris.com\">sseetaram@caricris.com<\/a><\/p>\n<\/div>\n<div>www.caricris.com<br \/>\n<a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/div>\n<div><\/div>\n<div><strong>Disclaimer<\/strong><strong>:<\/strong> CariCRIS has taken due care and caution in the 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.<\/div>\n<div><\/div>\n<div><\/div>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>RATING ACTION: On June 13, 2025, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings assigned to Bourse Securities Limited (BSL or the Company) at 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. Download Full Rating Rationale RATING SENSITIVITY [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-3265","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-9\/\" \/>\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 13, 2025, CariCRIS reaffirmed the Issuer\/Corporate Credit ratings assigned to Bourse Securities Limited (BSL or the Company) at 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. 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