Barita Investments Limited has earned a set of strong investment-grade issuer/corporate credit ratings from the Caribbean Information and Credit Rating Services Limited (CariCRIS).

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 capitalisation, and robust liquidity. They noted that these ratings underscore Barita’s expanding presence and competitive advantage in Jamaica’s financial services sector.

As Barita’s first investment grade credit rating, the CariCRIS milestone has demonstrated strong confidence since Cornerstone’s acquisition, spurred on by broad-based growth crucial to enhancing its capabilities.

READ: Cornerstone earns investment-grade ‘A’ credit rating from CariCRIS

Barita CEO Ramon Small-Ferguson 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.”

Barita is strongly capitalised and is the largest securities dealer by shareholder’s equity holding over a quarter of the total capital in the entire securities dealer sector. It successfully manages an investment banking portfolio in excess of US$1 billion in deals for clients, showcasing its expertise in the industry.

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.”

Small-Ferguson further added: “ These strong credit ratings from CariCRIS mark a key milestone for Barita as we execute our expansion strategy. This independent assessment reinforces confidence in the company’s financial strength while broadening our funding options. A strong credit profile enhances our ability to access diverse sources of capital, ensuring we remain well-positioned to drive long-term value creation.

“This rating affirms the foundation we have built and our commitment to sustainable growth.”

The credit rating is a strategic advantage that positions Barita to raise capital in the region should it choose to pursue this, aligning with its ambitions for regional expansion.