Global Credit Ratings withdraws Chase Bank Kenya Limited ratings.
Johannesburg, 31 March 2017 – The respective national scale long and short term ratings of CCC(KE) and C(KE) previously accorded to Chase Bank Kenya Limited (“Chase”, “the bank”) have been withdrawn. Chase has not provided Global Credit Ratings (“GCR”) with sufficient and timeous information to enable it to determine the appropriate rating, and accordingly, GCR has terminated rating coverage on the bank. Once the bank is in a position to provide GCR with the requisite information, and upon the bank’s request, full analysis and ratings coverage will be resumed.
NATIONAL SCALE RATINGS HISTORY
Initial rating (May 2015)
Long term: A-(KE); Short term: A1-(KE)
Last rating (April 2016)
Long term: CCC(KE); Short term: C(KE)
Sector Head: Financial Institution Ratings
APPLICABLE METHODOLOGIES AND RELATED RESEARCH
Global Criteria for Rating Banks and Other Financial Institutions (updated March 2017)
Chase rating report (2015)
Chase rating announcement (April 2016)
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