The Caribbean Information and Credit Rating Services Ltd (CariCRIS) has reaffirmed “high creditworthiness” ratings for the T&T Unit Trust Corporation (TTUTC).
In a release issued yesterday, CariCRIS explained that it reaffirmed the issuer/corporate credit ratings of CariAA (foreign and local currency) on the regional rating scale, and ttAA on the T&T national scale, for the TTUTC.
These ratings indicate that the level of creditworthiness of this obligor, adjudged in relation to other obligors in T&T and the wider Caribbean, is high.
CariCRIS also maintained a stable outlook on the ratings. The stable outlook is based on the high likelihood that, over the next 12 to 15 months, TTUTC will remain profitable, albeit at a lower level.
Profitability is expected to be driven by growth in Funds Under Management (FUM), supported by a continued focus on regional and product expansion, CariCRIS said. However, it noted that increased operating expenses, due to higher staff costs and additional marketing campaigns, could temper profits.
Moreover, TTUTC is expected to remain well-capitalised, with a strong liquidity position, the rating agency said.
“The ratings reflect the size and importance of the mutual funds industry to the T&T economy, as well as TTUTC’s market position as the largest mutual funds provider. Additionally, TTUTC’s investment portfolio remains well managed, with good asset quality and healthy investment returns,” CariCRIS said.
It added that the ratings are further supported by TTUTC’s strong risk management practices, which underpin overall improvement in operating efficiency.
Moreover, CariCRIS said TTUTC maintained strong earnings, underpinned by improved financial performance in 2025, adding that these strengths are tempered by legislative constraints and an ageing unitholder base, both of which may limit long-term growth.
