The company’s Chairman, Terrence Martins, said in his report that notwithstanding a difficult operating environment, the company completed 25 ratings during the year, a 8.7% increase over the 23 completed in the previous year. He explained that 18 of the company’s ratings are now in the public domain and subject to ongoing surveillance.

Ratings completed by the company originate from diverse countries in the region, reflective of the regional nature of the institution. The ratings also originate from many different sectors including sovereign, construction, manufacturing, petrochemical, utilities, banks, brokerage houses, insurance, telecommunications, and engineering sales and service, with the micro, small and medium enterprises ratings coming from woodworking, metal works, gasoline retail and services, interior design and personal care.

The Chairman also pointed to the successful credit risk analysis workshops facilitated by the company in Jamaica, Barbados, and Trinidad & Tobago over the past year and the expected benefits by way of more informed credit decision-making by workshop attendees, redounding to the benefit of all financial market participants.

The company’s CEO Wayne Dass said that apart from its core business of regional scale and national scale credit ratings and credit risk analysis training, the company is now capable of offering SME Ratings for the important micro, small and medium enterprises sector, and fixed income valuation services for fund managers with a portfolio of illiquid non-traded regional fixed income securities.

The SME Ratings, he explained, are designed to improve access to appropriately priced credit by the micro, small and medium enterprise sector, by offering SME lenders a comprehensive and independent risk assessment and performance grading of each SME.

The bond valuation service addresses the need for independence and uniformity in the valuation of regional fixed income securities, thereby leading to increased investor confidence and ultimately to higher traded volumes and better price discovery in the market.

Dass also explained that following on the company’s formal recognition by the Financial Services Commission in Jamaica in 2008, the company is pursuing similar recognition status in Trinidad & Tobago, Barbados and the OECS, and anticipates positive responses in short order. He further explained that the recognition status in Jamaica was awarded after an in-depth assessment of the company along the lines of quality and integrity of its rating process, independence and management of conflict of interests, transparency and timeliness or ratings disclosure, and treatment of confidential information.

Shareholders present at the meeting, which included representatives from the Caribbean Development Bank, Central Bank of Barbados, Eastern Caribbean Central Bank, Fortress Fund Managers, T&T Unit Trust Corporation, Guardian Holdings, Scotiabank T&T, Republic Bank and the National Insurance Board, commended the company’s board, rating committee, management and staff on their hard work and excellent progress made during the year in carrying out the company’s mandate of regional capital market development and integration through independent credit analysis and opinion.