Disseminate Rating Assigned / Accepted

Once a rating has been assigned by CariCRIS’ Rating Committee, the rating is usually immediately communicated to the client and in any case no later than three (3) working days from the date of the rating committee meeting.

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Confidentality Agreement

Caribbean Information and Credit Rating Services Limited (“CariCRIS”) is aware that in your capacity as an employee of CariCRIS that during your engagement with CariCRIS, you may learn or receive Confidential Information (defined below) which is strictly confidential and proprietary to CariCRIS or any subsidiary or affiliate of CariCRIS.

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Conflicts of Interest

CariCRIS has put in place a multi-layered governance structure as well as a code of ethics and conduct, drawing on international best practices, aimed at minimizing conflicts of interest in the conduct of its business. Maintaining the independence and functional autonomy of the Rating Committee in assigning ratings, is a core element of the governance plan.

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Dependence on Third Parties

CariCRIS ratings are based on the information provided by the issuer or obtained by CariCRIS from sources it considers reliable. CariCRIS does not audit, verify or validate all the information that it uses for its ratings. Therefore, CariCRIS cannot guarantee the completeness or accuracy of the information on which its ratings are based.

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Fee Policy

CariCRIS charges IRF for all new ratings assigned. For all ‘accepted’ ratings, CariCRIS charges SF throughout the life of the instrument. The current fee structure is indicated below, but may be subject to change from time to time

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Insider Trading - Employees

Employees shall not deal in the securities of a Company whether on their own account ortheir Immediate Family’s account, if the employee is in possession of material non-public information concerning the Company.

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Insider Trading

Employees shall not deal in the securities of a Company whether on their own account or their Immediate Family’s account, if the employee is in possession of material non-public information concerning the Company. Further, employees who are in possession of material non-public information shall not communicate, counsel or procure directly or indirectly the information to others who trade on such information.

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Rating Withdrawals

CariCRIS has designed a detailed policy on rating withdrawal, keeping in mind its fiduciary responsibility to keep the investors informed of the credit quality of the rated instrument, at all times through the life of the instrument.

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Review of Ratings

Once a rating is 'accepted' by the issuer and is in public domain, CariCRIS keeps the rating under constant surveillance, through periodic interactions with the management, as long as the instrument is outstanding or till such time the rating is withdrawn in consonance with CariCRIS' withdrawal policy.

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Standards of Conduct

Be aware of and adhere to all applicable laws, rules and regulations (including company policies, practices and procedures) of any government, governmental agency, regulatory organisation, licensing agency, or professional association governing the members' professional activities.

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Time Taken To Release a Rating Rationale

With the release of the rating, CariCRIS also issues a detailed rating rationale at most times simultaneously with the press release but in any case no later than ten (10) working days from the date of acceptance of the rating.

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Unsolicited Ratings

CariCRIS will not assign unsolicited ratings and all ratings will be assigned only on specific request from the issuer. While CariCRIS may provide Private Credit Assessment reports to current / prospective investors, such assessments will not carry a credit rating, and to the extent possible, such assessments will be conducted with the consent of the underlying credit, even when request for the report comes from a third party.

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Validity of Ratings

Based on CariCRIS’ review process whereby all outstanding ratings are reviewed on an ongoing basis, all CariCRIS’ ratings in the public domain are valid and reflect our current opinion at all points in time.

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