Barita upgraded by rating agency

Barita Investments Ltd has been upgraded one notch by regional ratings agency CariCRIS, lifting the brokerage into the top creditworthiness band available to Jamaican obligors and putting it a step above its own parent company.

“The national scale local currency rating indicates that the level of creditworthiness of this obligor, adjudged in relation to other obligors in Jamaica, is high,” CariCRIS said in the release.

The Caribbean Information and Credit Rating Services Limited raised Barita and its subsidiaries to jmAA- for local currency and jmA+ for foreign currency on the Jamaica national scale, and to CariA and CariA- respectively on the regional scale. The action was taken on 18 June but disseminated on 24 August. A stable outlook was assigned for the next 12 to 15 months.