GCR Rating Alerts - View All

GCR upgrades Vukile Property Fund Ltd Senior Secured Notes ratings to AAA_(ZA)(EL), Outlook Stable.

Rating Action

Johannesburg, 15 August 2019 – GCR Ratings (“GCR”) upgraded the long-term credit ratings and maintained the outlooks accorded to the following Senior Secured Notes issued by Vukile Property Fund Ltd (“Vukile”, or the “Issuer”) under the Issuer’s R5bn Domestic Medium Term Note Programme (the “Programme”).

Security Class	Stock Code	Amount	Rating class	Rating scale	Rating	Outlook/Watch
Senior ... Read More

3 days ago

GCR affirms Transaction Capital’s Issuer Long Term rating of A-_(ZA) on healthy financial profile and group diversification

Rating Action

Johannesburg, 14^th August 2019 – GCR Ratings (‘GCR’) has affirmed Transaction Capital Limited’s long-term South African national scale rating at A-_(ZA), while the short-term rating has been revised to A2_(ZA)due to change in rating definitions. At the same time, Transaction Capital Limited’s long-term international scale rating has been revised to B+ from BB- due to a change in the mapping methodology (see ...
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4 days ago

GCR releases the Ratings on seven South African Bank’s under its new criteria

Rating Action

Johannesburg, 13^thAugust 2019 – GCR Ratings (“GCR”) has reviewed the ratings on seven South African Banks 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 were placed ...
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4 days ago

GCR Assigns National Scale Issuer Ratings of A_(ZA)/A1_(ZA) and an International Scale Rating of BB- to SANRAL, Outlook Stable

Rating action

Johannesburg, 13 August 2019 – GCR Ratings (“GCR”) has assigned national scale issuer ratings to South African National Roads Agency SOC Limited (“SANRAL”) of A_(ZA) and A1_(ZA) in the long term and short term respectively, with a Stable Outlook. Concurrently an International scale issuer rating of BB- with a Stable Outlook was also assigned.

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5 days ago

Mmela Mobility Finance (RF) Ltd: Ratings Withdrawn of the Class B Notes and Class C Notes following Full Capital Redemption.

Rating Action

Johannesburg, 05 August 2019 – GCR Ratings (“GCR”) has withdrawn the long-term national scale credit ratings accorded to the Secured Class B Notes and Secured Class C Notes issued by Mmela Mobility Finance (RF) Ltd (the “Issuer”, the “Transaction”), following the full capital redemption thereof:

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2 weeks ago

GCR reviews five Zimbabwean financial institutions under the new criteria

Rating Action

Johannesburg, 5^th August 2019 – GCR Ratings (“GCR”) has reviewed the ratings on five Zimbabwean financial institutions under the recently released Criteria for Rating Financial Institutions, May 2019.

2 weeks ago

LT & ST national scale ratings of ABC Holdings & BancABC Botswana placed on Ratings Watch Evolving

Rating Action

Johannesburg, 5 August 2019– GCR Ratings (“GCR”) has placed African Banking Corporation Holdings’ (“ABCH” , ”the group”) long and short-term Botswanan national scale ratings of B_(BW)/ B_(BWand the African Banking Corporation of Botswana’s (“BancABC Botswana”, “the bank”) long and short-term national scale ratings of BBB-_(BW)/ A3_(BW) on Ratings Watch Evolving.

Rating rationale

The Ratings Watch Evolving reflects the proposed equity swap transaction ...
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2 weeks ago

GCR continues ‘Review Extension’ on Transaction Capital Risk Services’ servicer quality* ratings

Johannesburg, 1 August 2019 – Global Credit Ratings (“GCR”) has continued a rating’s ‘Review Extension’ on the primary and special servicer ratings assigned to Transaction Capital Risk Services (Proprietary) Limited of SQ1-_(ZA)and SQ1_(ZA) respectively. The ratings ‘Review Extension’, which was first used on 31 May 2019, stems from the ‘Under Criteria Observation’ on the Issuer, on which the servicer quality rating is partly dependent ...
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2 weeks ago

GCR places ‘Review Extension’ on the enX Corporation Partially Guaranteed Notes ratings.

31 July 2019 – GCR Ratings (“GCR”) has placed a ‘Review Extension’ on the long-term ratings and outlooks accorded to the following Partially Guaranteed Notes issued by enX Corporation Limited (“enX” or the “Issuer”):

Security Class	Stock Code	Amount	Rating class	Rating scale	Rating	Outlook / Watch
Partially Guaranteed	ENX01S	R102,000,000	Issue Long Term ... Read More

3 weeks ago

GCR Research - View All

GCR publishes updated Jurisdictional Supplement for Criteria

GCR Ratings (“GCR”) is occasionally required to qualify credit ratings issued within specific markets or jurisdictions in order to reflect any divergent or market related nuances which have the potential ... Read More

GCR publishes Structured Finance performance monitoring Dashboards for Auto Loan-Backed Securitisation transactions.

Summary 31 July 2019 – GCR Ratings (“GCR”) has published Structured Finance performance monitoring Dashboards for the publicly rated Auto Loan-Backed Securitisation transactions listed below. The Dashboard reports are available ... Read More

GCR publishes the sector risk score for Spanish commercial property

The Spanish sector risk score of '8' is reflective of expectations of stable annuity income, supported by medium-long term leases, improving occupancy rates and generally good access to capital. The ... Read More

GCR Publishes Insurance Sector Risk Scores for Benin, Botswana, Cameroon, Ghana, Malawi, Mauritius, Philippines and Tanzania. The Insurance sector risk score (ranging from 0 to 15) is a key factor ... Read More

GCR Publishes its Financial Institutions Sector Risk Score for the United Kingdom of Great Britain & Northern Ireland

The core of the GCR Ratings Framework is based on GCR’s opinion that an entity’s operating environment largely frames its creditworthiness ... Read More

GCR publishes Structured Finance performance monitoring Dashboards for Residential Mortgage Backed Securitisation transactions.

GCR Ratings (“GCR”) has published Structured Finance performance monitoring Dashboards for the publicly rated Residential Mortgage Backed Securitisation transactions ... 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