Barita Investments Limited and its subsidiaries have received a one-notch upgrade across all four of their credit ratings from Caribbean Information and Credit Rating Services Limited (“CariCRIS”), reflecting improvements in the Group’s market position, resources, risk management and earnings outlook.

Barita’s Jamaica national-scale local currency rating was upgraded from jmA+ to jmAA-, while its national-scale foreign currency rating moved from jmA to jmA+. On the regional scale, the Group’s local currency rating was upgraded from CariA- to CariA, and its foreign currency rating from CariBBB+ to CariA-. All four ratings carry a Stable Outlook.

The jmAA- national-scale local currency rating indicates a high level of creditworthiness relative to other Jamaican obligors, while the regional ratings indicate a good level of creditworthiness relative to other obligors across the Caribbean. The upgrade provides further independent recognition of Barita’s financial strength and the progress being made in building a larger, more diversified and resilient financial services business.

A major contributor to the improved assessment was Barita’s strengthened market position following the acquisition and integration of Barita Fund Managers Limited (“BFM”), formerly JN Fund Managers Limited. The acquisition has broadened Barita’s product offering, expanded its client base and increased assets under management. Barita acquired 100 per cent of JN Fund Managers in January 2026, with the company formally renamed Barita Fund Managers in March.

CariCRIS also recognised Barita’s stronger resource and funding position, supported by continued access to relatively low-cost funding; improvements in its enterprise risk management framework, including automated risk assessments and a centralised risk function; and the outlook for improved earnings, supported by higher fee income from BFM, increased investment banking activity and lower funding costs.

Commenting on the upgrade, Chief Executive Officer of Barita Investments Limited, Ramon Small-Ferguson, said the higher ratings provide another important measure of the institution’s continued development.

“A stronger credit rating matters because it speaks directly to confidence in the institution, our financial strength, our ability to meet our obligations and the resilience of the platform we are building,” Small-Ferguson said.

“Over the last several years, we have been deliberate about building greater scale, diversifying the business and strengthening the capabilities that support our clients. The addition of Barita Fund Managers has accelerated that journey by expanding our presence in asset management and pensions and increasing the breadth of solutions available across the Group.”

“For our clients and investors, this provides another independent point of reference when assessing Barita. It is encouraging to see the work being done across the organisation reflected in a higher rating, particularly following the upgrade of Cornerstone Financial Holdings earlier this year. We intend to keep raising the standard of the institution and building a business that can serve our clients with increasing depth, strength and relevance over the long term,” Small-Ferguson added.

The Barita upgrade follows the upgrade earlier this year of Cornerstone Financial Holdings Limited (“CFHL”), Barita’s ultimate parent, providing further independent recognition of the strengthening taking place across the wider Group.

CariCRIS noted that Barita’s ratings continue to be supported by good asset quality, strong capitalisation and its established position within Jamaica’s financial services sector. The Group is also positioned for further growth through strategic partnerships, acquisitions, product expansion and improvements in operating efficiency.

The Stable Outlook reflects CariCRIS’ expectation that Barita will maintain its position as a strong participant in Jamaica’s securities industry over the next 12 to 15 months. Profitability is also expected to benefit from recent acquisitions, product expansion and efficiency initiatives, while capitalisation and liquidity are expected to remain strong.

The agency identified several factors that could support further improvement in Barita’s ratings or outlook over time. These include sustained growth in profitability and tangible net worth, a greater contribution from recurring fee-based income, and improvement in Jamaica’s sovereign credit rating.