The TRINRE/PREMIER Group, which now has an office in Guyana, has announced that its corporate credit ratings have been upgraded by the Caribbean Information and Credit Rating Services Limited (CariCRIS) to CariA on the regional rating scale, and ttA on the Trinidad and Tobago national scale.
In a statement, the Group said its financial strength rating was also upgraded to CariA, affirming it ability to meet its insurance obligations.
“This one notch uplift is based on the following over the past three (3) years: Improved capitalisation over the past year, with an average growth rate of 16.4%; Material reduction in the risk profile of our investment portfolio; Significant enhancements to our Enterprise Information Systems; Robust policies, procedures and strong corporate governance; Annual increases in profits over the past 2 years in excess of the 15%; Diversification of our revenue stream over the past year with the successful establishment of our Guyana subsidiary, PREMIER Insurance,” the company said.
In issuing the upgraded ratings, CariCRIS confirmed that, “the level of creditworthiness of this obligor, adjudged in relation to other obligors in the Caribbean is good,” the company said.
Meanwhile, Vinai Narace Marketing and Services Manager of the TRINRE/PREMIER Group, stated, “These upgrades illustrate our continuous efforts to ensure sustainable performance for the benefit of all of our stakeholders.”