CariCRIS reaffirms UTC's positive ratings

THE Unit Trust Corporation (UTC) has once again maintained a positive track record by securing issuer/corporate credit ratings of CariAA on the regional rating scale and ttAA on the national scale from Caribbean Information and Credit Rating Services Ltd (CariCRIS).

In a release, CariCRIS said UTC had maintained a "stable" outlook on the ratings for the sixth consecutive year.

"These ratings indicate that the level of creditworthiness of this obligor, adjudged in relation to other obligors in Trinidad and Tobago and the wider Caribbean region is high,” said CariCRIS.

The stable outlook reflects the positive impact of UTC’s technological advances on its operating efficiency, risk management practices and consistently good earnings from its investment portfolio.

Nigel Edwards, executive director of UTC, credits the corporation's remarkable consistency in rating performance to its organisational drive and resilience, as well as the diligence and commitment demonstrated by the entire board and staff.

"Our ability to uphold outstanding ratings within a competitive and rapidly evolving industry underscores the strength of our strategic direction and reflects the confidence placed in us by our investors," Edwards said, reaffirming the commitment to maintaining excellence and delivering value in all aspects of their operations.

UTC is one of the largest mutual fund service provider, with funds under management totalling $24.6 billion with over 500,000 unitholders.

In 2013, UTC was designated as a Systemically Important Financial Institution (SIFI), given its size and importance to the financial services system.