Mar 2016 Financial News

RBL bond gets 'high creditworthiness' ratings

Mar 25, 2016

Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed the ratings of CariAA+ (Foreign Currency Rating) and CariAA+ (Local Currency Rating) on the regional rating scale, and ttAA+ on the T&T national scale to the debt issue of the size of $1 billion of Republic Bank Limited (RBL).

These ratings indicate that the level of creditworthiness of this obligation, adjudged in relation to other obligations in the Caribbean and within T&T is high.

CariCRIS said in a release: “The ratings of RBL continue to reflect the bank’s strong market positions in T&T, Barbados, Grenada and Guyana, with recent acquisitions in

South America and Africa. Further supporting the ratings is the healthy resource base, marked by a high proportion of retail deposits, geographical diversity and low funding costs, though tempered by high concentration in the US Dollar deposit base.

Source:
Trinidad Guardian
Friday March 25, 2016

http://www.guardian.co.tt/business/2016-03-25/rbl-bond-gets-%E2%80%98high-creditworthiness%E2%80%99-ratings