RATING ACTION:
On December 4, 2025, CariCRIS reaffirmed the Overall Issue Rating assigned to the TT $200 million Collateralized Mortgage Obligation of Home Mortgage Bank (CMO 2019-01) at ttAA- (SO) (Local Currency Rating) on the Trinidad and Tobago national rating scale. A stable outlook was maintained.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the Rating and/ or Outlook include:
- An improvement in the loan portfolio quality, with a non-performing loan (NPL) ratio of lower than 3% sustained for 2 years
- A return to delinquency levels of 2% – 4% within the underlying mortgage pool over the next 12-15 months
Factors that could, individually or collectively, lead to a lowering of the Rating and/ or Outlook include:
- Persistent and further deterioration in the mortgage pool quality with delinquency levels of above 22% and/ or NPL ratio of above 8% within the underlying mortgage pool leading to heightened extension and/ or default risk over the next 12-15 months
- Consistent cash flow shortfalls in the underlying mortgage pool over the next 12-15 months that may impair payments of principals and interests
- A deterioration in the credit risk profile of the Government of the Republic of Trinidad and Tobago (GORTT) leading to increased market risk
Analysts’ Contact Info:
Keith Hamlet
Mobile: 1-868-487-8356
E-mail: khamlet@caricris.com
Rudra Bhimsingh
E-mail: rbhimsingh@caricris.com
info@caricris.com
www.caricris.com
Disclaimer: CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published / reproduced in any form without CariCRIS’ prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this product.