GCR Rating Alerts - View All

GCR affirms Transaction Capital Risk Services Proprietary Limited’s Servicer Quality Ratings

Rating Action

Johannesburg, 15^th October 2019 – GCR Ratings (‘GCR’) has affirmed Transaction Capital Risk Services Proprietary Limited’s national scale primary and special servicer ratings at SQ1-_(ZA)/SQ1_(ZA), with outlooks accorded as Stable.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook / Watch
Transaction Capital Risk Services Proprietary Limited	Primary servicer	National	SQ1-_(ZA)	Stable Outlook
Transaction Capital Risk Services Proprietary Limited	Special servicer

10 hours ago

GCR reviews the ratings of Bank Windhoek Limited and Capricorn Investment Group Limited under the new criteria

Rating Action

Johannesburg, 14 October 2019 – GCR Ratings (‘GCR’) has reviewed the ratings of Bank Windhoek Limited and Capricorn Investment Group limited (“the group”) under the recently released Criteria for Rating Financial Institutions, May 2019.

Bank Windhoek Limited’s long and short-term Namibian national scale ratings have been affirmed at AA_(NA)/A1+_(NA), with a stable outlook. At the same time, the long-term South African national scale ...
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1 day ago

GCR affirms LT and ST Namibian National Scale ratings of AA+_(NA), A1+_(NA) on First National Bank of Namibia Limited

Rating Action

Johannesburg, 14 October 2019 – GCR Ratings (‘GCR’) has affirmed First National Bank of Namibia Limited’s unsolicited long and short-term Namibian national scale ratings at AA+_(NA)/A1+_(NA). The outlook is stable. At the same time, the long and short-term South African national scale ratings were withdrawn, without review.

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1 day ago

GCR Revises Long Term National Scale Issuer Rating on Netcare to AA-_(ZA) on Criteria Change. Outlook Stable

Rating Action

Johannesburg, 11 October 2019 – GCR Ratings (“GCR”) has revised the Long term national scale Issuer rating assigned to Netcare Limited (“Netcare”, “the group”) to AA-_(ZA), from A+_(ZA) and affirmed the Short term national scale Issuer rating at A1+_(ZA); with a Stable Outlook.

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4 days ago

GCR affirms Lombard’s financial strength rating at A+_(ZA), affirms/assigns issue ratings at BBB+_(ZA), issuer rating at A_(ZA).

Rating Action

Johannesburg, 10 October 2019 – GCR has affirmed Lombard Insurance Company Limited’s (“Lombard”) national scale financial strength (formerly claims paying ability) rating of A+_(ZA), Stable Outlook. GCR has also assigned Lombard a national scale long term issuer rating of A_(ZA), with a Stable Outlook. GCR has also assigned a national scale long term issue rating to Lombard’s R100m outstanding subordinated Notes (Stock Code ...
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5 days ago

GCR affirms National Scale Issuer Rating on PDM Holdings Limited at A-_(KE) on a strong financial profile; Outlook Stable.

Rating Action

Johannesburg, 10 October 2019 – GCR Ratings (“GCR”) has affirmed the national scale Issuer ratings accorded to PDM Holdings Limited (“PDM”) of A-_(KE) and A2_(KE) for long term and short term respectively, with a Stable Outlook.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook / Watch
PDM Holdings Limited	Issuer Long Term	National	A-_(KE)

5 days ago

GCR revises Bryte Insurance’s national scale financial strength rating to A_(ZA); Outlook Stable

Rating Action

Johannesburg, 10^th October 2019 – GCR Ratings (“GCR”) has revised Bryte Insurance Company Limited’s (“Bryte Insurance”) national scale financial strength (formerly claims paying ability) rating to A_(ZA)from A+_(ZA), Stable Outlook.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
Bryte Insurance Company Limited	Financial strength	National	A_(ZA)	Stable Outlook

GCR announced that it ...
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5 days ago

GCR downgrades ICEA LION Tanzania’s rating to BB+_(TZ) on sustained and material reduction in scale and profitability ; Outlook Negative

Rating Action

Johannesburg, 10 October 2019 – GCR Ratings (“GCR”) has downgraded ICEA LION General Insurance Company (Tanzania) Limited’s (“ICEA Lion Tanzania”) national scale financial strength (formerly claims ability) rating to BB+_(TZ), Negative Outlook from A-_(TZ), Negative Outlook

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
ICEA LION General Insurance Company (Tanzania) Limited	Financial strength	National	BB+_(TZ)	Negative ... Read More

5 days ago

GCR upgrades Grindrod Bank Limited’s national scale rating to A-_(ZA), Outlook Stable.

Rating Action

Johannesburg, 9^thOctober 2019 – GCR Ratings (“GCR”) has upgraded the national scale long term issuer rating assigned to Grindrod Bank Limited to A-_(ZA) from BBB+_(ZA), affirmed the national scale short term issuer rating at A2_(ZA), and affirmed the international scale long term issuer rating at B+, with outlooks accorded as Stable.

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6 days ago

GCR Research - View All

GCR Requests Public Comment on Draft Appendix to Criteria for Rating FSCs: Asset Management Issuer Credit Ratings

GCR introduces the draft Appendix to Criteria for Rating Financial Services Companies: Asset Management Issuer Credit Ratings, representing a new approach to the analysis of credit ratings for Asset Managers ... Read More

GCR Requests Public Comment on Draft Criteria for Rating Investment Holding Companies

GCR introduces the draft Criteria for Rating Investment Holding Companies, representing a new approach to the analysis of investment holding companies. The draft criteria includes a summary of how it ... Read More

GCR publishes industry research on the South African private healthcare sector and updates the South African Sector Risk Score Report

GCR will periodically provide insights on key sectors/industries across different territories in which various rated entities are domiciled, encompassing changes in the operating environment, performance trends and its view of ... Read More

Bonds, Loans & Sukuk East Africa is East Africa’s only annual debt event and brings together 250 government officials, borrowers, issuers, regulators, bankers, investors and advisors from more than 15 ... Read More

GCR Publishes Kenyan Corporate Sector Risk Scores

GCR utilises the corporate sector risk scores in conjunction with the country risk score, to determine the operating environment risk score for each individual sector within the Kenyan environment. The ... Read More

GCR Publishes the South African Medical Schemes Sector Risk Score

GCR views industry solvency to be prudent, benefitting from adequate reserve accumulation, inherently low product risk, and comparatively contained levels of market risk exposure. Regulatory oversight contributes towards continuing reserve ... Read More

Premium research: Latest releases - view more

enX Corporation Limited Partially Guaranteed Notes

enX is predominately characterised by its two largest operating entities Industrial Equipment (“IE”) and FML, housed under enX Leasing Investments (Pty) Limited, the parent guarantor. Industrial Equipment’s business is built on its exclusive distribution of Toyota Forklifts in South Africa ...
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South African Securitisation Programme (RF) Limited – Series 1 (Monitoring Dashboard)

Oct 14, 2019

The Dashboard exhibits key performance metrics related to the South African Securitisation Programme (RF) Ltd – Series 1 transaction, which include credit enhancement levels, excess spread, defaults, recoveries and covenants ...

South African Securitisation Programme (RF) Limited – Series 2 (Monitoring Dashboard)

Oct 14, 2019

The Dashboard exhibits key performance metrics related to the South African Securitisation Programme (RF) Ltd – Series 2 transaction, which include credit enhancement levels, excess spread, defaults, recoveries and covenants ...

MW Asset Rental (Monitoring Dashboard)

Oct 14, 2019

The Dashboard exhibits key performance metrics related to the MW Asset Rental (RF) Ltd transaction, which include credit enhancement levels, excess spread, defaults, recoveries and covenants ...

MW Asset Rentals (RF) Limited

Oct 10, 2019

Therefore, the Transaction’s cash flows were not remodelled for the current surveillance, as the previous (November 2018) modelling output remains valid. Please refer to GCR’s MW Asset Rentals (RF) Ltd New Issuance Report, 23 November 2018, for further details ...