CariCRIS upholds CariBB+ ratings on Dominica DAID Bank's USD10m debt.

(ADPnews) - Jul 29, 2010 - Caribbean Information and Credit Rating Services (CariCRIS) said yesterday it has maintained its CariBB+ foreign- and local-currency regional ratings on the USD 10 million (EUR7.6m) debt issue of Dominica Agricultural, Industrial and Development Bank (DAID Bank).

The ratings speak of the issuer's "speculative" credit quality when measured against other peers in the Caribbean region.

The rating on the bank is limited by its exclusive operations in a relatively weak, highly indebted economy that was heavily battered by the recent crisis. Further rating constraints include its limited access to funding …