PBS Tech Group bond gets investment grade credit rating

A bond issue by PBS Technology Group Limited (PBSTGL) has been assigned ratings of CariA (local currency) and CariA- (foreign currency) by the Caribbean Information and Credit Rating Services Limited (CariCRIS) on its regional scale.

CariCRIS also assigned PBSTGL grades jmAA+ (local currency rating) and jmAA (foreign currency rating) on the Jamaica national scale. CariCRIS’s also assigned stable outlook to its rating.

PBSTGL was formed in September 2020 following the acquisition of Massy Holdings’ regional information technology and communications (ICT) business known as Massy Technologies by Musson (Jamaica) Limited. PBSTGL is one of the largest information technology and communications providers in the Caribbean.

Ian John, CEO of PBS Technology Group Limited, said, “We are pleased that PBS Technology Group has received an inaugural investment grade rating from CariCris. This rating places us among the most credit- worthy institutions in the region. CariCris’ rating rationale recognised our consistent performance over many years and the current quality and financial strength of our business. We expect that the benefits from this rating will allow PBS Technology Group to better serve our thousands of clients across the region and continue to play a leadership role in the development of the information technology and communications industry in the Caribbean.”