Latest Rating Actions by Caricris
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WORKSHOP DATE COUNTRY SME eSmart- Powering Your Potential Find out more today by calling: (868)-627-8879 ext. 228 or email: [email protected] Latest Rating Actions by CariCRIS ▪ Telecommunication Services of Trinidad and Tobago rating downgraded to CariA- ▪ Trinidad and Tobago Mortgage Finance Company Limited rating reaffirmed at CariAA- ▪ The Government of Anguilla rating reaffirmed at CariBBB+ ▪ NCB Financial Group rating upgraded to CariA+ ▪ NCB Jamaica Limited rating upgraded to CariA- ▪ NGC’s rating reaffirmed at CariAA+ ▪ NCB Capital Markets Limited’s rating upgraded to CariBBB+ ▪ NCB (Cayman) Limited’s rating reaffirmed at CariA ▪ Colonial Fire & General Insurance Company Limited’s rating reaffirmed at CariA ▪ Home Mortgage Bank’s rating reaffirmed at CariA ▪ Mystic Mountain Limited’s rating upgraded to CariBBB ▪ NiQuan Energy Trinidad Limited’s rating reaffirmed at CariA+ ▪ Sagicor Financial Corporation Limited’s proposed bond issue initial rating assigned at CariAA ▪ Dominica Agriculture, Industrial and Development Bank’s rating reaffirmed at CariBB- Please visit our website at www.caricris.com for the detailed Rationales on these and other ratings Benefits of CariCRIS’ Bond Valuation Services: • Independent fair value prices for non-traded securities • Pricing done by qualified experts • Quick turnaround and affordable fees CariCRIS’ credit ratings and daily Newswire can also be found on the Bloomberg Professional Service. REGIONAL Trinidad and Tobago Boost for Digicel data customers DIGICEL Trinidad and Tobago has announced the rollout of its LTE Advanced (LTE-A) mobile network, an upgrade from its LTE network. The upgrade promises customers maximum speeds of 190 megabits per second (Mbps). First Citizens Bank gains $0.54 OVERALL market activity resulted from trading in ten securities of which two advanced, four declined and four traded firm. Jamaica GraceKennedy reports improved third-quarter performance The GraceKennedy Group is reporting improved performance after its nine-month period accumulating net profits of $3.71 billion, representing a marginal increase of 0.1 per cent or $2.04 million over the prior year period. NCB boasts of $30.7 billon super profit and $1.6 trillion in assets for 2019 National Commercial Bank (NCB) Group is boasting of its $30.7 billion super profit made for its just ended financial year, while its assets have climbed to $1.6 trillion. NCB a $1.6-TRILLION company NCB Insurance Company (NCBIC) has launched a set of new pooled fund offerings, targeting local pension funds. Ground broken, contract signed for Dr Kenneth Baugh Health Centre GROUND was broken and the contract signed on Wednesday for construction of the Dr Kenneth Baugh Health Centre in the rural community of Point Hill in St Catherine West Central. Sagicor Group gains from core business Sagicor Group Jamaica earnings spiked 18 per cent in the third quarter, due to growth in its core operation. Guyana Tobacco company rakes in $1.3B in profits DEMERARA Tobacco Company has recorded a $1.3B before tax profits for the first six months of this year, representing an increase of four per cent over the corresponding period last year. Anguilla Bigger, Better Airline for Anguilla From Puerto Rico Now that the 2019/2020 tourism season is in full swing in Anguilla, Silver Airways, a US mainland-based company, has made its first flight to the Captain Clayton J. Lloyd International Airport and is to begin its schedule service in the New Year from Puerto Rico. Million-Dollar Road for Chapel Hill A public road is to be constructed from Chapel Hill, just down from the Bethel Methodist Church and Cemetery, to Sandy Ground where Road Bay provides one of the most arresting and magnificent views in Anguilla. The Construction Industry: Public Sector Catches Up with Private Sector Right now, there are several public sector projects in progress absorbing a considerable percentage of the workforce in the construction industry. The bulk of the projects are being funded under the UK-funded Anguilla Programme. British Virgin Islands Road Town Fast Ferry adds 5:30pm trip from Charlotte Amalie to RT - move will accommodate late arrival & departure of Spirit & Jet Blue flights Part of the rationale behind the move is to accommodate the late arrival and departure of Spirit and Jet Blue flights in and out of St Thomas, which means that visitors can now consider the ferry as an option for getting to the Virgin Islands. The Dominican Republic Medina inaugurates Renewable Energy Theme Park in Ciudad Juan Bosch President Danilo Medina led the inauguration of the Renewable Energy Theme Park in the City of Juan Bosch. The park will generate clean energy with different technologies that represent the future route of the electricity industry based on production and energy consumption with sustainable criteria. The Dominican Republic continued Sunrise Airways will expand and develop new route openings from DR Sunrise Airways, an airline that links Santo Domingo and Havana, Cuba, announced that it acquired a certificate of operation from the national company Servicios Aéreos Geca, which offers non-scheduled passenger and mail air transport services, domestic and international, and regular transportation air on routes to Santo Domingo – Punta Cana. Venezuela Baker Hughes' Venezuela office reopens after town orders 'temporary closure' Baker Hughes’ western Venezuela office has returned to “regular operations,” the company said on Friday, after a local government earlier ordered it closed due to the company’s alleged failure to pay municipal taxes. INTERNATIONAL United States S&P 500, Nasdaq slip on trade uncertainty; Boeing buoys Dow The S&P 500 and Nasdaq stock indexes fell from record highs on Monday as uncertainty about progress in U.S.-China trade talks again rose to the fore following comments by President Donald Trump, while a jump in Boeing shares helped the Dow Jones Industrial Average eke out a slim gain. JetBlue enters basic economy battle with new fare options JetBlue Airways Corp (JBLU.O) on Tuesday became the latest U.S. airline to launch a low-fare option in an effort to rival basic economy offerings from major airlines and meet competition from ultra-low-cost carriers. United Kingdom FTSE rebounds but mid-caps nervy as sterling falls A near 3% rise in shares of the world’s biggest credit check firm Experian led a recovery in London blue-chip stocks on Tuesday after falls that tracked a downbeat global mood a day earlier. United Kingdom continued UK jobs fall by most in over four years as election nears Britain’s employers cut more jobs from July to September than in any quarter for four years, according to official data, which highlighted how the labour market is slowing as an election nears although the fall was smaller than economists forecast. Morrisons lags as big UK supermarkets lose ground to discounters Britain’s big four supermarket groups lost market share to German-owned discounters Aldi and Lidl in the latest 12-week period, with No. 4 player Morrisons (MRW.L) the clear laggard, industry data showed on Tuesday. Europe Defensive stocks help European shares end flat, London lags Demand for defensive stocks helped European shares recover from early losses on Monday as investors grappled with issues ranging from violent Hong Kong protests to an inconclusive Spanish election and weak data from China. Global Oil rises further above $62 as trade hopes support Oil rose further above $62 a barrel on Tuesday, supported by hopes that U.S. President Donald Trump may signal progress on trade talks with China and lower inventories at a U.S. oil hub. Dollar edges up ahead of potentially market-moving Trump trade speech The dollar was stronger against the yen and Swiss franc on Tuesday as traders grew optimistic ahead of a speech by U.S. President Donald Trump, during which he is expected to again postpone imposing tariffs on European Union autos. Tobacco company rakes in $1.3B in profits Tuesday 12th November, 2019 – Guyana Chronicle DEMERARA Tobacco Company has recorded a $1.3B before tax profits for the first six months of this year, representing an increase of four per cent over the corresponding period last year. Chairman of the company, Marcus Steele, noted that gross profit for the period was recorded at $1.8B, reflecting an increase of three per cent over 2018. “These positive results were driven by the excellent trade marketing efforts of the staff members, the on-going and positive distribution efforts by our business partner E.B. Beharry, and the disruption in the supply chain in the illicit trade in cigarettes which flowed from the impact and implementation of some other anti-illicit trade measures by the GRA,” Steele said in a report that was published in the newspapers. Administration, distribution and marketing expenses totalling $425M (2018: $419M) represented a one per cent increase, signalling strong success by the management in maintaining overhead costs and strengthening our operating efficiencies. Steele said the company continues to successfully transition into the new operating environment flowing from the new regulatory measures which have been enacted over the last two years by the authorities. “During the specific period under review, the company has shown institutional and operating resilience in managing both the 10s ban which became effective January 2019, and also the new labelling and packaging regime with the GHW component that was rolled out in February of 2019. There is no doubt that it has been a challenging period for the overall industry, but I remain particularly pleased with the overall management by the company’s leadership during the period, and the continuing strong performance as evidenced by the solid business results,” Steele noted. He said, within all of this, the company continues to be proud of the strength of its brands, and the continuing “loyalty of our business partners, namely our distributor, our retailers and our consumers.