Rating agency Caribbean Information and Credit Rating Services Ltd (CariCRIS) is reaffirming a “high creditworthiness “ratings of the ANSA Merchant Bank Ltd (AMBL Group).
In a release issued yesterday, CariCRIS explained it reaffirmed the assigned issuer/corporate credit ratings of CariAA (local currency lc) and foreign currency (fc) on the regional rating scale and ttAA (lc and fc) on the T&T national scale to ANSA Merchant Bank Ltd (AMBL group).
These ratings include a single notch up for the high likelihood of support, if needed, from the parent ANSA McAL.
CariCRIS said the regional scale ratings indicate that the level of creditworthiness of this obligor, adjudged in relation to other obligors in the Caribbean, is high.
It added that the national scale ratings indicate that the AMBL group’s creditworthiness, compared to other obligors in T&T, is high.
CariCRIS has also assigned a stable outlook on the ratings.
The stable outlook is based on the high likelihood of AMBL group maintaining profitable operations over the next 12 to 15 months.
The rating agency added this is underpinned by its favourable market position and ongoing execution of digital and marketing initiatives, which are anticipated to drive revenue growth and bolster operating efficiencies.
Additionally, the AMBL group is expected to remain wellcapitalised with good asset quality, it said, adding its sound liquidity profile is expected to ensure the AMBL group comfortably meets its debt service obligations on time over the next 12 to 15 months.
The ratings are driven by AMBL favourable market position, supported by a well-established brand and long history in the financial services industry.
Additionally, CariCRIS said AMBL continues to exhibit good financial performance buttressed by profitable operations, strong capitalisation levels and good liquidity metrics.
These, alongside a well-diversified earning asset portfolio, notwithstanding some weakening in asset quality, and robust governance structure, further bolster the ratings.
Nonetheless, CariCRIS said the ratings are tempered by sovereign concentration risk compounded by global economic uncertainty which could constrain the AMBL group’s financial performance in the year ahead.
ANSA Merchant Bank Ltd (AMBL group) is a financial services group that comprises ANSA Merchant Bank Ltd (the parent or bank) and its subsidiaries.
The bank was incorporated on March 3, 1977, and is domiciled in T&T.
Initially established as Amalgamated Finance in 1999, the bank was registered to conduct business as a securities company under the Securities Act 1995.
AMBL Group is majority owned by ANSA McAL, one of the largest conglomerates in the Caribbean. Both ANSA McAL and AMBL Group are listed on the T&T Stock Exchange. ANSA McAL Ltd comprises over 70 companies that are wholly or partly owned with operations in several industries across eight territories.
