Barita Investments Limited Receives A+ Credit Ratings from CariCRIS

Ramon Small-Ferguson, chief executive officer of Barita (left) and Dane Brodber, CEO-designate of the Barita Financial Group Limited (right).

Barita Investments Limited, Barita, has received impressive recognition from the Caribbean Information and Credit Rating Services Limited (CariCRIS), the region’s foremost credit rating agency.

CariCRIS has assigned Barita a set of strong investment-grade issuer/corporate credit ratings. These ratings signify the company’s solid creditworthiness in the Caribbean market and highlight its status as a leading player in Jamaica’s securities industry.

The ratings include jmA+ (Local Currency Rating) and jmA (Foreign Currency Rating) on the Jamaican national scale, as well as CariA- (Local Currency Rating) and CariBBB+ (Foreign Currency Rating) on the regional scale. These designations reflect CariCRIS’ independent assessment of Barita’s excellent financial health, sound governance, and prudent management practices.

CariCRIS has also assigned a stable outlook, expressing confidence in Barita’s ability to sustain profitability and financial strength over the next 12 to 15 months, supported by rising income, high asset quality, strong capitalization, and robust liquidity. They noted that these ratings underscore Barita’s expanding presence and competitive advantage in Jamaica’s financial services sector.

Ramon Small-Ferguson, chief executive officer, CEO, of Barita, expressed his gratitude to the team for this accomplishment. “This recognition from CariCRIS is the direct outcome of the incredible work of the Barita team.

“Since Cornerstone’s acquisition of Barita in 2018, through their support and strategic direction, we have transformed this business through a focus on bolstering our financial and human capital, enabling exceptional growth and business line expansion. This rating result is an encouraging indicator of our progress to date and highlights the strong foundation we continue to build for future success.”

Dane Brodber, CEO-designate of the Barita Financial Group Limited, highlighted the strategic advantage of achieving a credit rating.

“Obtaining an independent credit rating from CariCRIS provides enhanced transparency and credibility to Barita’s operations, which is critical as we expand our reach and engage with a broader range of stakeholders.

“It strengthens the confidence of investors, partners, and clients while showcasing the Company’s solid financial foundation and commitment to excellence.”