KINGSTON, Jamaica — Caribbean Information and Credit Rating Services Limited (CariCRIS) has reaffirmed VM Financial Group Limited’s (VMFG) investment-grade credit ratings, maintaining a stable outlook for the financial services group.

The ratings, first assigned in September 2025, remain at CariBBB+ for local currency and CariBBB for foreign currency on the regional scale. On the Jamaica national scale, VMFG retained ratings of jmA for local currency and jmA- for foreign currency.

In its latest assessment, CariCRIS pointed to VMFG’s established market position, sustained profitability, diversified revenue streams and good asset quality as factors supporting the ratings.

The agency also highlighted the group’s strong liquidity, sound capitalisation and robust corporate governance and risk management practices.

VM Group President and Chief Executive Officer Courtney Campbell welcomed the reaffirmation, describing it as an endorsement of the group’s strategic direction.

Brian Frazer, Group Chief Treasury Officer of VM Financial Group.

“We welcome the reaffirmation of VM Financial Group’s investment-grade ratings and Stable Outlook. This outcome reinforces our confidence in the group’s strategic direction as we continue to build business resilience, improve operational efficiency and pursue opportunities for sustainable growth. Our focus remains on creating even greater value for our members, clients and other stakeholders.”

The announcement follows VMFG’s successful preference share offer earlier this year, which saw the group list $9.535 billion in preference shares on the Jamaica Stock Exchange Private Market in June after an oversubscribed offer.

According to CariCRIS, proceeds from the offer are earmarked for refinancing maturing debt facilities and covering related transaction costs.

VMFG Group Chief Treasury Officer Brian Frazer said the rating reflects proactive asset-liability governance and robust investor confidence.

“Maintaining an investment-grade profile with a stable outlook is a strong external validation of our disciplined approach to capital, liquidity and balance sheet management,” said Frazer.

“Coming on the heels of the successful preference share offer, this reaffirmation demonstrates the effectiveness of our proactive liability management strategy. It assures our institutional counterparties, debt investors and funding partners that VMFG is operating from a position of financial strength as we optimise our cost of capital and support the group’s growth initiatives.”

Looking ahead, CariCRIS indicated that it expects VMFG to continue reporting profitable financial performance and noted that the group’s diversified operations, growing presence in real estate and continued focus on the Jamaican diaspora should support its performance over the medium term.