GCR Rating Alerts - View All

Fox Street 6 (RF) Limited – Credit Ratings of Various Classes of Notes Withdrawn, Affirmed and Upgraded

Rating Action

2 July 2020 – GCR Ratings (“GCR”) has taken the rating actions indicated in the table below on the credit ratings of the various Classes of Notes issued by Fox Street 6 (RF) Limited (“Fox Street 6”). These actions follow GCR’s annual review of the transaction.

Security Class

Stock Code

Amount Outstanding

Rating Class

Rating Scale

Rating

Outlook / ...
Read More

1 week ago

GCR affirms AIG Kenya’s national scale financial strength rating of AAA_(KE); Outlook Stable

Rating action

Johannesburg, 2 July 2020 – GCR Ratings (“GCR”) affirms AIG Kenya Insurance Company Limited’s (“AIG Kenya”) national scale financial strength rating of AAA_(KE), and accorded a Stable Outlook.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
AIG Kenya Insurance Company Limited	Financial strength	National	AAA_(KE)	Stable Outlook

Rating rationale

AIG Kenya’s ...
Read More

1 week ago

GCR affirms ICEA LION Life Assurance Company Limited’s Kenyan financial strength rating of AA_(KE); Outlook Stable

Rating action

Johannesburg, 01 July 2020 – GCR Ratings (“GCR”) has affirmed ICEA LION Life Assurance Company Limited’s (“ICEA LION Life”) national scale financial strength rating of AA_(KE); Outlook Stable.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
ICEA LION Life Assurance Company Limited	Financial strength	National	AA_(KE)	Stable Outlook

Rating rationale

The rating of ...
Read More

1 week ago

GCR affirms Southchester RF Limited’s Fund rating of AA-_(ZA)(f); Outlook Stable.

Rating Action

Johannesburg, 30 June 2020 – GCR Ratings has affirmed the national scale fund rating assigned to Southchester RF Limited of AA-_(ZA)(f); Outlook Stable.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook / Watch
Southchester RF Limited	Fund Rating^[1]	National	AA-_(ZA)(f)	Stable Outlook

Fund summary

1 week ago

GCR withdraws NMB Bank Limited’s Issuer Ratings without review

Rating Action

Johannesburg, 25 June 2020 – GCR Ratings (“GCR”) has withdrawn the national scale long term and short term issuer ratings assigned to NMB Bank Limited, without affirmation as no additional analysis was performed. The withdrawal was due to commercial reasons. Accordingly, GCR will no longer provide ratings or analytical coverage for NMB Bank Limited. The ratings were last reviewed in July 2019.

2 weeks ago

GCR affirms Uganda Reinsurance Company Limited’s national scale financial strength rating of A_(UG); maintains Positive Outlook

Rating action

Johannesburg, 25 June 2020 – GCR Ratings (“GCR”) has affirmed Uganda Reinsurance Company Limited’s (“Uganda Re”) national scale financial strength rating of A_(UG) and maintained the Positive Outlook.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
Uganda Reinsurance Company Limited	Financial strength	National	A_(UG)	Positive Outlook

Rating rationale

Uganda Re’s national scale financial ...
Read More

2 weeks ago

Mainstream Reinsurance Company Limited’s Ghanaian financial strength rating upgraded to AA-_(GH) and international scale financial strength rating maintained at B-; Outlooks Stable

Rating Action

Johannesburg, 25 June 2020 – GCR Ratings (“GCR”) has upgraded Mainstream Reinsurance Company Limited’s (“Mainstream Re”) national scale financial strength rating to AA-_(GH), from A+_(GH) and simultaneously affirmed the international scale financial strength rating of B-. Both ratings have been placed on Stable Outlook.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
Mainstream Reinsurance Company Limited

2 weeks ago

GCR affirms Activa Ghana’s national scale financial strength rating of A_(GH); Outlook Positive

Rating Action

Johannesburg, 24 June 2020 – GCR Ratings (“GCR”) has affirmed Activa International Insurance Company Limited’s (“Activa Ghana”) national scale financial strength rating of A_(GH), with the outlook accorded as Positive.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
Activa International Insurance Company Limited	Financial strength	National	A_(GH)	Positive Outlook

Rating Rationale

Activa ...
Read More

2 weeks ago

GCR affirms East Africa Reinsurance Company Limited’s international and national scale financial strength ratings of B and AA-_(KE); Outlooks Stable

Rating action

Johannesburg, 24 June 2020 – GCR Ratings (“GCR”) has affirmed East Africa Reinsurance Company Limited’s (“EA Re”) national scale financial strength of AA-_(KE), Outlook Stable. Furthermore, EA Re’s international scale financial strength rating has been affirmed at B, Outlook Stable.

Rated Entity / Issue	Rating class	Rating scale	Rating	Outlook/Watch
East Africa Reinsurance Company Limited	Financial strength	National

2 weeks ago

GCR Research - View All

GCR reduces the Kenyan Sector Risk Scores for Hospitality and Discretionary Retail

Summary 08 April 2020 - GCR Ratings (“GCR”) has reduced the following Kenyan Corporate Sector Risk Scores in light of the COVID-19 crisis: Kenyan Hospitality to ‘3.0’, from ‘4.0’ Kenyan ... Read More

Corporate Performance Negatively Impacted by COVID-19.

GCR Ratings has published an industry research piece on the impact of the COVID-19 crisis on the Kenyan Corporate Sector: Key highlights of the research are: GCR expects the disruptions ... Read More

External Risks Set to Challenge Kenyan Banks in 2020

GCR Ratings has published a Kenyan Banking Sector research piece for 2020. Some of the highlights of the research are: Currently, GCR expects the impact of the COVID-19 inspired global ... Read More

COVID-19 pandemic risks likely to delay positive developments in Botswana's short-term insurance industry

Summary 06 April 2020 - GCR Ratings (“GCR”) has published an industry research piece on the potential for ongoing credit positive economic and regulatory reforms in Botswana to positively impact ... Read More

GCR expects the Kenyan insurance industry to be positively impacted by successful enforcement of the cash and carry regulation

Summary 02 April 2020 - GCR Ratings (“GCR”) has published an industry research piece on how the Kenyan insurance industry will be positively impacted by successful enforcement of the cash ... Read More

Pandemics and economic shocks: in 2020 Country Risks are rising fast but risk differentiation is not yet clear

GCR Ratings has published a Special Report on Country Risk for 2020. Key highlights of the research are: The global response to the Covid-19 Pandemic will extinguish global economic growth ... Read More

Premium research: Latest releases - view more

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

The Dashboard covers the period from May 2019 to May 2020. For March and April 2020, the percentage Overcollateralisation covenant is still at the 10% required level. However, the proportion of performing assets where not sufficient to meet the required ...
Read More

South African Securitisation Programme (RF) Limited Series 1 (Monitoring Dashboard)

Jul 7, 2020

The Dashboard covers the period from May 2019 to May 2020 and is part of GCR’s performance monitoring process and does not constitute rating action or rating reports. GCR will update the Dashboards at least on a quarterly basis Read ...

Fox Street 6 (RF) Ltd ( Monitoring Dashboard)

Jun 17, 2020

The Dashboard covers the period from November 2018 to May 2020 and is part of GCR’s performance monitoring process and does not constitute rating action or ratings reports. GCR will update the Dashboard at least on a quarterly basis. Read ...

Global Equity Investments Ltd (Monitoring Dashboard)

Jun 17, 2020

The Dashboard was updated in June 2020 and is part of GCR’s monitoring process and does not constitute rating action. GCR will update the Dashboard at least on a quarterly basis. Read More ...

Assurances CIMA

Jun 16, 2020

Le niveau élevé des créances de primes : une importante contrainte de notation pour les assureurs et réassureurs non-vie dans la zone CIMA Sommaire
▪ Les créances de primes élevées et persistantes constituent un défi systémique dans la zone CIMA ;
▪ ...