Rating action Johannesburg, 20 August 2020 – GCR Ratings (“GCR”) has affirmed The Heritage Insurance Company Kenya Limited’s (“Heritage Kenya”) national scale financial strength rating of AA(KE), with a Stable Outlook. Rated Entity / Issue Rating class Rating scale Rating Outlook/Watch The Heritage Insurance Company Kenya Limited Financial strength National AA(KE) Stable Outlook Rating rationale...
CREDIT RATINGS ISSUED AND RESEARCH PUBLICATIONS PUBLISHED BY GCR, ARE GCR’S OPINIONS, AS AT THE DATE OF ISSUE OR PUBLICATION THEREOF, OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. GCR DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL AND/OR FINANCIAL OBLIGATIONS AS THEY BECOME DUE. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: FRAUD, MARKET LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND GCR’S OPINIONS INCLUDED IN GCR’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS AND GCR’S PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS AND GCR’S PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL OR HOLD PARTICULAR SECURITIES. NEITHER GCR’S CREDIT RATINGS, NOR ITS PUBLICATIONS, COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. GCR ISSUES ITS CREDIT RATINGS AND PUBLISHES GCR’S PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING OR SALE. GCR’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS, AND PUBLICATIONS ARE EXCLUSIVELY INTENDED FOR USE BY WHOLESALE AND/OR INSTITUTIONAL USERS AND/OR INVESTORS ONLY AND ARE THEREFORE SPECIFICALLY NOT INTENDED FOR USE BY RETAIL OR INDIVIDUAL USERS AND/OR INVESTORS. TO REITERATE AS PER ABOVE, GCR DOES NOT PROVIDE INVESTMENT ADVICE IN ANY MANNER OR FORM. GCR STRONGLY RECOMMENDS THAT USERS PERFORM THEIR OWN INDEPENDENT RESEARCH AND/OR CONSULT WITH SUITABLY QUALIFIED PROFESSIONAL(S) BEFORE MAKING ANY FINANCIAL DECISIONS. THE OWNERSHIP OF ANY INVESTMENT DECISION(S) SHALL EXCLUSIVELY VEST WITH THE USER AFTER ANALYZING ALL POSSIBLE RISK FACTORS AND BY EXERCISING THEIR OWN INDEPENDENT DISCRETION, AND GCR SHALL NOT BE LIABLE OR HELD LIABLE FOR ANY CONSEQUENCE THEREOF.
Copyright © 2022 GCR INFORMATION PUBLISHED BY GCR MAY NOT BE COPIED OR OTHERWISE REPRODUCED OR DISCLOSED, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT GCR’S PRIOR WRITTEN CONSENT. Credit ratings are solicited by, or on behalf of, the issuer of the instrument in respect of which the rating is issued, and GCR is compensated for the provision of these ratings. Information sources used to prepare the ratings are set out in each credit rating report and/or rating notification and include the following: parties involved in the ratings and public information. All information used to prepare the ratings is obtained by GCR from sources reasonably believed by it to be accurate and reliable. Although GCR will at all times use its best efforts and practices to ensure that the information it relies on is accurate at the time, GCR does not provide any warranty in respect of, nor is it otherwise responsible for, the accurateness of such information.GCR adopts all reasonable measures to ensure that the information it uses in assigning a credit rating is of sufficient quality and that such information is obtained from sources that GCR, acting reasonably, considers to be reliable, including, when appropriate, independent third-party sources. However, GCR cannot in every instance independently verify or validate information received in the rating process. Under no circumstances shall GCR have any liability to any person or entity for (a) any loss or damage suffered by such person or entity caused by, resulting from, or relating to, any error made by GCR, whether negligently (including gross negligence) or otherwise, or other circumstance or contingency outside the control of GCR or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory or incidental damages whatsoever (including without limitation, lost profits) suffered by such person or entity, as a result of the use of or inability to use any such information. The ratings, financial reporting analysis, projections, and other observations, if any, constituting part of the information contained in each credit rating report and/or rating notification are, and must be construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. Each user of the information contained in each credit rating report and/or rating notification must make its own study and evaluation of each security it may consider purchasing, holding or selling. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE BY GCR IN ANY FORM OR MANNER WHATSOEVER.
GCR’s credit ratings, assessments, other opinions and publications are exclusively intended for use by wholesale and/or institutional users and/or investors only and are therefore specifically not intended for use by retail or individual users and/or investors. To reiterate as per above, GCR does not provide investment advice in any manner or form. GCR strongly recommends that users perform their own independent research and/or consult with suitably qualified professional(s) before making any financial decisions. The ownership of any investment decision(s) shall exclusively vest with the user after analyzing all possible risk factors and by exercising their own independent discretion, and GCR shall not be liable or held liable for any consequence thereof.