Announcements – Page 2

GCR affirms Letshego Ghana’s issuer ratings with a Negative outlook, reflecting mounting asset quality and capitalisation pressure. Concurrently, the Unsecured Notes were downgraded to BB+_(GH).

Jul 9, 2020

Tagged in: Ghana

Rating Action Johannesburg, 09 July 2020 – GCR Ratings (“GCR”) has affirmed Letshego Ghana Savings and Loans PLC’s, (formerly known as AFB (Ghana) Plc) national…

Announcements Financial Institutions Rating Alerts

GCR places African Banking Corporation (Moçambique) S.A.’s issuer ratings under ‘Review Extension’

Jul 8, 2020

Tagged in: Mozambique

Rating Action Johannesburg, 08 July 2020 – GCR Ratings (“GCR”) has placed African Banking Corporation (Moçambique) S.A. (“BancABC Moçambique”)’s national scale long-term and short-term issuer…

Announcements Financial Institutions Rating Alerts

GCR withdraws the national scale issuer ratings of FBC Bank Limited and FBC Building Society without review

Jul 8, 2020

Rating Action Johannesburg, 08 July 2020 – GCR Ratings (“GCR”) has withdrawn the national scale long term and short term issuer ratings assigned to FBC…

Announcements Insurance Rating Alerts

GCR affirms The Jubilee Insurance Company of Tanzania Limited’s national scale financial strength rating of A_(TZ); Outlook Stable

Jul 8, 2020

Tagged in: Tanzania

Rating action Johannesburg, 08 July 2020 – GCR Ratings (“GCR”) has affirmed The Jubilee Insurance Company of Tanzania Limited’s (“Jubilee Tanzania”) national scale financial strength…

Announcements Corporate Rating Alerts

GCR downgrades SANRAL’s international scale credit rating to B+ from BB-, on heightened country and sector risks.

Jul 8, 2020

Tagged in: South Africa

Rating Action Johannesburg, 08 July 2020 – GCR Ratings (“GCR”) has downgraded the long-term international scale issuer rating assigned to South African National Roads Agency…

Announcements Insurance Rating Alerts

GCR affirms Goldstar Insurance Company Limited’s national scale financial strength rating of A+_(UG); Outlook Stable

Jul 7, 2020

Rating action Johannesburg, 07 July 2020 – GCR Ratings (“GCR”) has affirmed Goldstar Insurance Company Limited’s (“Goldstar”) national scale financial strength rating of A+(UG); Outlook…

Announcements Insurance Rating Alerts

GCR affirms Kenya Reinsurance Corporation Limited’s national scale financial strength rating of AA+_(KE)

Jul 7, 2020

Rating action Johannesburg, 07 July 2020 – GCR Ratings (“GCR”) has affirmed Kenya Reinsurance Corporation Limited’s (“Kenya Re”) national scale financial strength rating of AA+(KE),…

Announcements Financial Institutions Rating Alerts

GCR affirms African Banking Corporation of Zimbabwe’s national scale long-term issuer rating of BB+_(ZW); Outlook Stable.

Jul 7, 2020

Rating Action Johannesburg, 7th July 2020 – GCR Ratings (‘GCR’) has affirmed African Banking Corporation of Zimbabwe’s national scale long term and short term issuer…

Announcements Insurance Rating Alerts

GCR downgrades OMICO’s Zimbabwean financial strength rating to AA-_(ZW) from AAA_(ZW) due to the adverse effect of hyperinflation on the financial profile; Outlook Negative

Jul 7, 2020

Johannesburg, 7 July 2020 – GCR Ratings (“GCR”) downgrades Old Mutual Insurance Company Limited’s (“OMICO”) national scale financial strength rating to AA-(ZW) from AAA(ZW), with…

Announcements Insurance Rating Alerts

GCR affirms The Jubilee Insurance Company of Uganda Limited’s national scale financial strength rating of AAA_(UG); Outlook Stable

Jul 7, 2020

Johannesburg, 07 July 2020 – GCR Ratings (“GCR”) has affirmed The Jubilee Insurance Company of Uganda Limited’s (“Jubilee Uganda”) national scale financial strength rating of…