Announcements

GCR Assigns Long and Short-term National Scale Issuer Ratings of BBB_(NG)/A3_(NG) Respectively to Sterling Asset Management and Trustees Limited; Outlook Stable

Jun 23, 2021

Tagged in: Nigeria

Lagos, 23 June 2021 – GCR Ratings (“GCR”) has assigned Sterling Asset Management and Trustees Limited national scale long and short term issuer ratings of…

Announcements Insurance Rating Alerts

GCR downgrades CIC General’s Kenyan financial strength rating of BBB+_(KE) to BBB_(KE) on continued credit profile pressures from group level balance sheet risks; Outlook Negative

Jun 23, 2021

Tagged in: Kenya

Rating action Nairobi, 23 June 2021 – GCR Ratings (“GCR”) downgrades CIC General Insurance Limited’s (“CIC General”) national scale financial strength rating of BBB+(KE) to…

Announcements Corporate Indicative Rating Actions Rating Alerts

GCR accords an Indicative Rating to Sundry Foods Funding SPV Plc’s Series 1 N8bn Bonds.

Jun 22, 2021

Tagged in: Nigeria

Lagos, 22 June 2021 – GCR Ratings (“GCR”) has accorded an indicative long term credit rating of A-(NG)(IR) to Sundry Foods Funding SPV Plc’s proposed…

Announcements Corporate Rating Alerts

GCR assigns A-_(NG) / A2_(NG) national scale long and short-term Issuer rating to Sundry Foods Limited; Stable Outlook.

Jun 22, 2021

Tagged in: Nigeria

Lagos, 22 June 2021 – GCR Ratings (“GCR”) has assigned national scale long-term and short-term Issuer ratings of A-(NG) and A2(NG), respectively, to Sundry Foods…

Announcements Corporate Rating Alerts

GCR upgrades MTN Nigeria Communications Plc’s national scale long term Issuer rating to AAA_(NG) on Criteria Review, Outlook Stable.

Jun 22, 2021

Tagged in: Nigeria

Lagos, Nigeria, 22 June 2021 – GCR Ratings (“GCR”) has upgraded the national scale long-term Issuer rating of MTN Nigeria Communications Plc to AAA(NG) and…

Announcements Insurance Rating Alerts

GCR downgrades CIC Life’s Kenyan financial strength rating to BBB_(KE), from BBB+_(KE) on deterioration in the group’s credit profile; Outlook Negative

Jun 22, 2021

Tagged in: Kenya

Rating action Johannesburg, 22nd June 2021 – GCR Ratings (“GCR”) has downgraded CIC Life Assurance Limited’s (“CIC Life”) national scale financial strength rating to BBB(KE),…

Announcements Insurance Rating Alerts

GCR affirms Momentum Medical Scheme’s national scale financial strength rating of AA_(ZA), and withdraws the rating.

Jun 21, 2021

Tagged in: South Africa

Rating action Johannesburg, 21 June 2021 – GCR Ratings (“GCR”) has affirmed Momentum Medical Scheme’s (“Momentum”) national scale financial strength rating of AA(ZA). Subsequently, the…

Announcements Corporate Rating Alerts

GCR affirms Curro Holdings Limited’s BBB+_(ZA) ratings on stable performance despite uncertain environment; Outlook Stable

Jun 18, 2021

Tagged in: South Africa

Rating Action Johannesburg, 18 June 2021 – GCR Ratings (“GCR”) has affirmed the national scale issuer ratings assigned to Curro Holdings Limited of BBB+(ZA) and…

Announcements Financial Institutions Rating Alerts

GCR Affirms Wema Bank Plc’s Issuer National Scale Long Term Rating of BBB-_(NG); Outlook changed to Evolving from Negative

Jun 18, 2021

Tagged in: Nigeria

Lagos, 18 June 2021 – GCR Ratings (“GCR”) has affirmed Wema Bank Plc’s national scale long and short-term issuer ratings of BBB-(NG) and A3(NG) respectively;…

Announcements Insurance Rating Alerts

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

Jun 17, 2021

Tagged in: Kenya

Rating action Johannesburg, 17th June 2021 – GCR Ratings (“GCR”) has affirmed East Africa Reinsurance Company Limited’s (“EA Re”) international scale financial strength rating of…

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GCR Assigns Long and Short-term National Scale Issuer Ratings of BBB_(NG)/A3_(NG) Respectively to Sterling Asset Management and Trustees Limited; Outlook Stable

GCR downgrades CIC General’s Kenyan financial strength rating of BBB+_(KE) to BBB_(KE) on continued credit profile pressures from group level balance sheet risks; Outlook Negative

GCR accords an Indicative Rating to Sundry Foods Funding SPV Plc’s Series 1 N8bn Bonds.

GCR assigns A-_(NG) / A2_(NG) national scale long and short-term Issuer rating to Sundry Foods Limited; Stable Outlook.

GCR upgrades MTN Nigeria Communications Plc’s national scale long term Issuer rating to AAA_(NG) on Criteria Review, Outlook Stable.

GCR downgrades CIC Life’s Kenyan financial strength rating to BBB_(KE), from BBB+_(KE) on deterioration in the group’s credit profile; Outlook Negative

GCR affirms Momentum Medical Scheme’s national scale financial strength rating of AA_(ZA), and withdraws the rating.

GCR affirms Curro Holdings Limited’s BBB+_(ZA) ratings on stable performance despite uncertain environment; Outlook Stable

GCR Affirms Wema Bank Plc’s Issuer National Scale Long Term Rating of BBB-_(NG); Outlook changed to Evolving from Negative

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

Global Credit Ratings: Corporate debt issuance in Nigeria to remain robust in 2021

East Africa Outlook