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.