This sovereign report is a continuation of CariCRIS Caribbean Economic Reporting (CER) series (see our December 2024 six country report, www.caricris.com). In this current report, we highlight the sovereign of Suriname. Five sovereign analysis areas are presented ((i) income & economic structure, (ii) fiscal & debt, (iii) monetary & financial sector soundness, (iv) balance of payments and external sector competitiveness, and (v) political environment). The report is built upon publicly available information that CariCRIS believes to be accurate or estimate/projections from sources that CariCRIS believes to be reliable. CariCRIS currently does not have a formal credit rating relationship with the Government of Suriname.

Read More

CariCRIS reaffirms ‘high creditworthiness’ ratings of the NIF’s TT $4.0 billion debt issue (Series B, C and D)

Read more

RATING ACTION:

On June 13, 2025, CariCRIS reaffirmed the ratings currently assigned to the TT $4 billion bond issue (Series B, C and D) of the National Investment Fund Holding Company Limited (NIF or the Company) of CariAA (Local Currency Rating) on the regional rating scale and ttAA (Local Currency Rating) on the Trinidad and Tobago (T&T) national scale. A stable outlook was assigned.

Download Full Rating Rationale

RATING SENSITIVITY FACTORS:

Factors that could, individually or collectively, lead to an improvement in the Ratings and/ or Outlook include:

• Improvement in the credit risk profile of the GORTT
• Improvement in the credit risk profiles of TGU and RFHL

Factors that could, individually or collectively, lead to a lowering of the Ratings and/ or Outlook include:

• A deterioration in the credit risk profile of the GORTT over the next 12 months
• A deterioration in the cash flow adequacy ratio to less than 1 time sustained for 2 financial periods
• A deterioration in the credit risk profiles of TGU and RFHL
• Breach of any covenants of the bond

PBS Technologies (Trinidad) Limited US $40 Million Bond Issue – Withdrawal of Issue Credit Ratings

Download Full Rating Rationale

Caribbean Information & Credit Rating Services Limited (CariCRIS), the region’s credit rating agency, wishes to inform the public of the withdrawal of the credit rating and outlook assigned to PBS Technologies (Trinidad) Limited’s (PBSTTL) US $40 million, 7% Fixed Rate Secured Note due in January 2026. This rating was last reported on by CariCRIS in June 2024.

The rating is withdrawn following CariCRIS’ receipt of notice in June 2024, indicating full repayment of the instrument. As a result, the rating will no longer be kept under annual surveillance and as such there will be no further updates on this bond issue rating. PBSTTL, will however maintain a corporate credit rating.

July 3, 2025

PBS Technologies (Trinidad) Limited US $40 Million Bond Issue – Withdrawal of Issue Credit Ratings

Read more

CariCRIS upgrades ‘good creditworthiness’ ratings of PBS Technologies (Trinidad) Limited

Read more