CariCris: Ansa Merchant Bank stable

THE Caribbean Information and Credit Rating Services Ltd (CariCris) has given a stable outlook to the Ansa Merchant Bank Ltd (AMBL) group.

In a statement issued on October 19, CariCris reaffirmed the assigned issuer/corporate credit ratings of CariAA (Foreign Currency (FC) and Local Currency (LC)) on the regional rating scale and ttAA (FC and LC) on the TT national scale to AMBL.

The company said, "These ratings include a single notch up for the high likelihood of support, if needed, from the parent Ansa McAl Ltd.

CariCris added, "The regional scale ratings indicate that the level of creditworthiness of this obligor, adjudged in relation to other obligors in the Caribbean and within TT is high. The national scale ratings indicate that the AMBL Group’s creditworthiness, compared to other obligors in TT, is high.

The company said the outlook on the ratings for AMBL is stable.

"The stable outlook is premised on our expectation that over the next 12 to 15 months, the AMBL Group will continue to have profitable operations, bolstered by the first full-year inclusion of Colonial Fire and General Insurance Co Ltd’s (Colfire) performance."

CariCris said, "This, in addition to continued growth in its core operations supported by the implementation of marketing strategies, new products and digital initiatives, which are anticipated to support revenue growth and improve operating efficiencies."