Victoria Mutual Investments Limited (VMIL) has been reaffirmed a triple “B” category investment-grade credit rating from the Caribbean Information and Credit Rating Services Limited (CariCRIS). 

The ratings assigned to VMIL are as follows:

Additionally, CariCRIS has assigned a stable outlook on VMIL ratings, premised on the expectation that VM Group investment subsidiary will remain profitable and adequately capitalised, notwithstanding current geopolitical challenges and rising interest rates.

CariCRIS notes that in 2021, VMIL reported improved financial performance underpinned by strong growth in dividend income from its subsidiary, VM Wealth.

In addition, VMIL’s liquidity position also improved, as it was able to successfully renegotiate and lengthen the tenure of its maturing debt that became due during the year. 

Commenting on the assigned ratings, VMIL’s CEO Rezworth Burchenson is “pleased by the nod given to the company.”

“Our robust, growth-focused strategic plan is being effectively and purposefully executed. We’re upbeat about our trajectory as this investment grade rating will be leveraged to fortify our competitive positioning. The journey continues in earnest,” Burchenson noted further.