RATING ACTION:
On March 27, 2026, CariCRIS reaffirmed the Issuer/Corporate Credit ratings assigned to Trinidad and Tobago Unit Trust Corporation (TTUTC) at CariAA (Foreign and Local Currency Ratings) on the regional rating scale, and ttAA (Local Currency Rating) on the Trinidad and Tobago national scale. A stable outlook was maintained.
RATING SENSITIVITY FACTORS:
Factors that could, individually or collectively, lead to an improvement in the Ratings and/ or Outlook include:
- Improving market and economic conditions over the next 12-15 months, leading to sustained Net Investment Income growth, resulting in ROE and ROEA of 5% and 1.5% respectively.
- Diversification of funds under management to include a greater share of young investors.
- Successful expansion and implementation of operations into the Caribbean leading to positive impacts on revenue.
- Improvement in the cost to income ratio to 55% or below sustained for 2 financial years.
Factors that could, individually or collectively, lead to a lowering of the Ratings and/ or Outlook include:
- A deterioration in the credit quality of the fixed-income portfolios below investment grade.
- A 15% or higher reduction in FUM sustained for 3 consecutive years.
- A reduction in total investment income to average earning assets to 1.5% sustained for 3 consecutive years.
Analysts’ Contact Info:
Keith Hamlet
Tel: 1-868-487-4356
E-mail: khmalet@caricris.com
Sharlene Gordon
Tel: 1-876-564-5230
E-mail: sgordon@caricris.com
info@caricris.com
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