GCR withdraws Adcorp Holdings Limited’s national scale Issuer ratings.
Johannesburg, 18 December 2017 – Global Credit Ratings (“GCR”) has today withdrawn the national scale Issuer ratings assigned to Adcorp Holdings Limited (“Adcorp”), at the client’s request. This follows the rating announcement released on 08 December 2017, where GCR affirmed the national scale Issuer ratings assigned to Adcorp of BBB-(ZA) and A3(ZA) for the long and short term respectively, with the outlook accorded as Negative. GCR will no longer provide rating coverage on Adcorp.
NATIONAL SCALE RATINGS HISTORY
Initial rating (December 2012)
Last rating (December 2017)
Long term: BBB(ZA); Short term: A3(ZA)
Long term: BBB-(ZA); Short term: A3(ZA)
Sector Head: Corporate Ratings
APPLICABLE METHODOLOGIES AND RELATED RESEARCH
Global Master Criteria for Rating Corporate Entities, updated February 2017
Adcorp Holdings Limited Issuer and Group 1 Notes: update on Rating Watch, 19 September 2017
GCR affirms Adcorp Holdings Limited’s rating of BBB-(ZA), Outlook Negative, 08 December 2018
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