CariCRIS Upgraded VM Investment's Creditworthiness  

• Regional rating agency, Caribbean Information and Credit Rating Services Limited (CariCRIS) has upgraded VM Investment's overall creditworthiness. The regional scale local currency rating indicates that the level of creditworthiness of this obligor, adjudged concerning other obligors in the Caribbean is good. The national scale local currency rating indicates high creditworthiness compared to other obligors in Jamaica.
• The ratings have been upgraded to CariBBB (Regional Scale Local Currency); jmBBB+ (Jamaica National Scale Foreign Currency); and jmA- (Jamaica National Scale Local Currency). 
• CariCris says VM Investment's creditworthiness is 'Adequate,' and it maintains a 'Stable' outlook for the company.
• The rating agency noted several strengths to VMIL’s creditworthiness, which it described as ‘adequate,’ including expected benefits from its investment in Kingston Properties (KPREIT), improvement in the credit risk profile of VMIL’s parent company, VM Financial Group Limited (VMFG) and implied support therefrom and an improvement in Jamaica’s sovereign risk profile.
• The agency expects VMIL to remain profitable and adequately capitalized over the next 12 to 15 months.
• The agency cited VMIL’s growing presence in the Jamaica financial services sector supported by its parent, VMFG, continued profitability and maintenance of good capitalisation levels, underpinned by its growing tangible net worth.

• The rating upgrade signifies a lower credit risk for VMIL and greater reliability in meeting financial obligations. 

(Source: CariCRIS Ratings)