The Caribbean Information and Credit Rating Services Limited (CariCRIS) has assigned NCB Financial Group Limited (NCBFG) an initial rating of ‘jmAAA’ on a national scale with a stable outlook, now enabling the company to offer investment grade instruments to various types of investors. This follows strong ratings earlier this year for the National Commercial Bank Jamaica Limited and two of its subsidiaries, NCB Capital Markets Limited and NCB Cayman Limited from the Caribbean-based rating agency. On the national scale, NCBFG received a ‘jmAAA’ and ‘jmAA+’ for local and foreign currencies, respectively. On the regional scale, the organisation received a ‘CariA’ and ‘CariA-‘ for the local and foreign currency rating, respectively. According to CariCRIS, “the stable outlook is based on our expectation that the NCB Financial Group’s financial performance will continue to be strong over the next 12-15 months, as the loan portfolio of the Group’s banking subsidiary, NCBJ continues to expand as a result of improved economic activity in Jamaica.” NCBFG, the holding company of the National Commercial Bank, Jamaica’s largest financial conglomerate with assets totalling $665 billion at June 2017, says the CariCRIS rating comes at a time when the group is steadily pursuing growth opportunities both in the local and regional market place. A CariCRIS credit rating gives an objective assessment of an entity's creditworthiness relative to that of other debt-issuing entities. It provides ratings at both the regional and national levels. “Given our strategic aspiration to expand regionally, this rating creates additional opportunities to access international debt markets, allowing the organisation to fund growth prospects to the benefit of our customers, shareholders and business partners,” stated Patrick Hylton, NCBFG’s President and Group Chief Executive Officer. “Recently, we offered a NCBFG Bond for USD 105 million with a coupon of seven per cent (7%) for a term of five (5) years to accredited investors. This rating now allows us to offer investment options to a wider pool of investors outside of the high net worth space, giving all investors a chance to participate,” Hylton said. Hylton pointed out that the bond should appeal to investors looking for more lucrative investment options and serves to capitalise on the current USD liquidity in the local market. The NCBFG Bond, arranged by NCB Capital Markets, opened October 1, 2017 and will close in a few days. NCBFG was listed on the Jamaica Stock Exchange in March of this year after shareholders of NCBFG and NCBJ approved a Scheme of Arrangement under which NCBJ shareholders at the time gave up their shares for shares in NCBFG and NCBJ became a wholly owned subsidiary of NCBFG. The conglomerate has a 29.99 per cent stake in the Guardian Holdings Limited, acquired in May 2016. The NCB Group has operations in Trinidad & Tobago, Barbados and the Cayman Islands. In addition to core banking, the Group lists wealth management services as well as both life and general insurance among its business lines.