GCR Rating Alerts - View All

GCR reviews ratings on two Mozambican insurance companies under the new criteria

Rating Action

Johannesburg, 19^th July 2019 – GCR Ratings (“GCR”) has reviewed public ratings on two Mozambican insurance companies under the recently released Criteria for Rating Insurance Companies, May 2019.

GCR announced that it had released a new criterion for rating insurance companies in May 2019. Consequently, all affected ratings were placed ‘Under Criteria Observation’.

GCR has finalised the reviews on two Mozambican ...
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3 days ago

GCR downgrades Omnia’s rating to BBB-_(ZA) to reflect its long-term view of leverage and cash flows post planned rights issue

Rating Action

Johannesburg, 18 July 2019 – GCR Ratings (“GCR”) has downgraded Omnia Holdings Limited (“Omnia”) and Omnia Group Investments Limited’s national scale Issuer ratings to BBB-_(ZA) andA3_(ZA) in the long term and short term respectively, from A-_(ZA) and A1-_(ZA) respectively. The ratings remain on Rating Watch Negative.

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4 days ago

Commissioner Street No. 4 (RF) Ltd: Ratings Withdrawn of the Class A5 Notes and Class A6 Notes following Full Capital Redemption.

Rating Action

Johannesburg, 12 July 2019 – GCR Ratings (“GCR”) has withdrawn the long-term national scale credit ratings accorded to the following Notes issued by Commissioner Street No. 4 (RF) Ltd (the “Issuer”) under the Metro Funding Series 2011-1 pursuant to the Commissioner Street Collateralised Note Programme, following the full capital redemption thereof:

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1 week ago

GCR affirms BancABC Moçambique’s rating of BB+_(MZ); Outlook Stable.

Rating Action

Johannesburg, 10 July 2019 – GCR Ratings (“GCR”) has affirmed the national scale ratings assigned to African Banking Corporation (Mocambique) S.A. (“BancABC Moçambique,” the bank”) of BB+_(MZ) and B_(MZ) in the long term and short term respectively; with the outlook accorded as Stable.

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1 week ago

GCR places City Of Johannesburg Metropolitan Municipality’s rating of AA_(ZA) on Negative Outlook due to liquidity concerns.

Rating Action

Johannesburg, 11 July 2019 – GCR Ratings (“GCR”) has placed City of Johannesburg Metropolitan Municipality’s rating on Negative Outlook, with the national scale ratings affirmed at AA_(ZA) and A1+_(ZA)in the long term and short term respectively.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook / Watch
City of Johannesburg Metropolitan Municipality	Issuer Long ... Read More

2 weeks ago

GCR lowers Delta Property Fund Limited’s rating to B+_(ZA) on high gearing and liquidity weaknesses, Rating Watch Evolving

Rating Action

Johannesburg, 10 July 2019 – GCR Ratings (“GCR”) has downgraded the Long and Short term national scale Issuer ratings assigned to Delta Property Fund Limited to B+_(ZA) and B_(ZA); and placed the ratings on Rating Watch Evolving.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook / Watch
Delta Property Fund Limited	Issuer Long ... Read More

2 weeks ago

GCR reviews seven Zimbabwean financial institutions under the new criteria

Rating Action

Johannesburg, 8^th July 2019 – GCR Ratings (“GCR”) has reviewed the ratings on seven Zimbabwean financial institutions under the recently released Criteria for Rating Financial Institutions, May 2019.

On May 22, 2019 GCR announced that it had released new criteria for all banks and bank-like entities. This methodology is titled Criteria for Rating Financial Institutions. As a result, all affected ratings ...
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2 weeks ago

GCR Revises National Scale Issuer Rating on African Oxygen Limited to A+_(ZA) on Criteria Change. Outlook Stable

Rating Action

Johannesburg, 04 July 2019 – GCR Ratings (“GCR”) has revised the Long term national scale Issuer rating assigned to African Oxygen Limited to A+_(ZA) and affirmed the Short term rating at A1_(ZA); with a Stable Outlook.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook / Watch
African Oxygen Limited	Issuer Long Term	... Read More

3 weeks ago

Mmela Mobility Finance (RF) Ltd: Ratings of the Class B Notes and Class C Notes affirmed, Rating Watch Evolving and Negative, respectively.

Rating Action

Johannesburg, 3 July 2019 – GCR Ratings (“GCR”) has affirmed the following long-term credit rating accorded to the Secured Class B Notes (“Class B Notes”) issued by Mmela Mobility Finance (RF) Ltd (“MMF”, the “Issuer” or the “Transaction”), Rating Watch Evolving. GCR concurrently affirmed the following long-term credit rating accorded to the following Secured Class C Notes (“Class C Notes”), Rating Watch Negative ...
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3 weeks ago

GCR Research - View All

GCR Ratings Expects Interest Rate Cut to Support an Already Resilient Asset Performance

The South African Reserve Bank (“SARB”) lowered the Repo rate by 25bps on 18 July 2019. While such decrease, albeit moderate, should free up cash for the consumer, it is ... Read More

GCR publishes industry research on the South African commercial property market

GCR Ratings (“GCR”) has published an industry research piece on observed dynamics in the South African commercial property space ... Read More

GCR Publishes Financial Institutions Sector Risk Scores for Ghana And Rwanda

The financial institutions sector risk score, assessed on a scale between 0-15, is important in a number of ways. Firstly, as a key factor in the operating environment component score ... Read More

GCR publishes Structured Finance performance monitoring Dashboards for Equipment Lease Securitisation transactions

The dashboards are part of Structured Finance’s process of monitoring the performance of the transactions rated by GCR, i.e. among others, the available credit enhancement, excess spread, defaults, recoveries and ... Read More

GCR Publishes Insurance Sector Risk Scores for seven countries

The Insurance sector risk score (ranging from 0 to 15) is a key factor in the operating environment component score. The core of the GCR Ratings Framework is based on ... Read More

GCR Publishes Financial Institutions Scores for 11 countries

The Financial sector risk score is important in a number of ways. Firstly, as a key factor in the operating environment component score. The core of the GCR rating framework ... Read More

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GCR Research - View All

King Cetshwayo District Municipality

AECI Limited

South African Securitisation Programme (RF) Limited – Series 3

South African Securitisation Programme (RF) Limited Series 2

South African Securitisation Programme (RF) Limited Series 1