Overview
The Caribbean Development Bank (CDB) wishes to procure Rating Agency services for the designating of a Private Corporate Credit Rating to the Development Finance Corporation (DFC) of Belize in support of its accreditation to the Green Climate Fund. Payment to persons or entities, or for any import of goods, are prohibited if such payment or import, to the knowledge of CDB, is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations.
The objective of the consultancy is to analyze and review DFC’s operations and assign the Cooperation a Private regional-scale corporate (shadow) credit rating. Using its established rating methodology, the selected firm will perform its due diligence to the Corporation through the revision of internal policies, operative and regulatory framework, market segment, and other inputs required to affirm a fair and just evaluation of DFC’s capacity to meet outstanding and future obligations. This credit rating will be used to support DFC’s accreditation application to the Green Climate Fund (GCF). The anticipated duration of the assignment is a period of two (2) months. Further details can be found in the attached Terms of Reference.
Eligibility
CDB now invites interested eligible Rating Agencies to submit Expressions of Interest for the provision of these agency services.
In the assessment of submissions, consideration will be given to the following:
- Experience of providing shadow ratings or similar assessment for national and/or international development financial institutions.
- Internationally accepted ratings methodology that is referenced by the investor public.
- Experience working in Central America and the Caribbean.
Instructions
All information must be submitted in English. Further information may be obtained from the address below between 8:30 am and 4:30 pm Monday to Friday.
An electronic copy of the Expressions of Interest must be sent to the e-mail address below no later than 4:30 pm (EST) on Friday, December 30th, 2022. Submissions shall include a cover page displaying the name and address of the applicant and the subject line shall be clearly marked “Expression of Interest – Rating Agency Services for Designating a Private Credit Rating to the DFC".
Following the assessment of submissions, a shortlist of not less than three and not more than six applicants will be provided with full terms of reference and invited to submit technical and financial proposals to undertake the assignment. CDB reserves the right to accept or reject late applications or to cancel the present invitation partially or in its entirety. It will not be bound to assign any reason for not selecting any applicant and will not defray any costs incurred by any applicant in the preparation and submission of Expressions of Interest
Rating Agencies are advised to view CDB’s General Privacy Notice for information on how CDB manages and protects personal data.
Contact
1. Address
Procurement Policy Unit
Caribbean Development Bank
P.O. Box 408
Wildey
St. Michael
BARBADOS, W.I.
E-mail Address: procurement@caribank.org; CDB-GCF@caribank.org