The Unit Trust Corporation (UTC) has once again maintained its impressive track record by securing Issuer/Corporate Credit Ratings of CariAA (Foreign and Local Currency) on the regional rating scale, and ttAA on the Trinidad and Tobago (T&T) national scale from Caribbean Information and Credit Rating Services Limited (CariCRIS).
CariCRIS, for the sixth consecutive year, maintained a “stable” outlook on the ratings and underlined the UTC’s investment portfolio as having good asset quality and healthy investment returns.
“These ratings indicate that the level of creditworthiness of this obligor, adjudged in relation to other obligors in T&T and the wider Caribbean region is high,” said CariCRIS in its rating release, noting that the stable outlook reflects the positive impact of the UTC’s technological advances on its operating efficiency, risk management practices and consistently good earnings from its investment portfolio.
Nigel Edwards, Executive Director of UTC, credits the Corporation’s remarkable consistency in ratings performance to its organizational drive and resilience, as well as the diligence and commitment demonstrated by the entire Board and staff.
“Our ability to uphold outstanding ratings within a competitive and rapidly evolving industry, underscores the strength of our strategic direction and reflects the confidence placed in us by our investors,” the Executive Director said, reaffirming the commitment to maintaining excellence and delivering value in all aspects of their operations.
UTC is the largest mutual fund service provider in Trinidad and Tobago, with Funds Under Management totaling TT$24.6BN with over 500,000 unitholders. Given its size and importance to the financial services system, in 2013 UTC was designated as a Systemically Important Financial Institution (SIFI).
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For further information, please contact Rory Rostant, Corporate Communications Manager, UTC : rrostant@ttutc.com, 685-7975