Announcements Criteria

GCR Requests Public Comments on Draft Criteria for Secured Bond Expected Loss Credit Ratings

Request for comment: The proposed criteria titled ‘Criteria for Secured Bond Expected Loss Credit Ratings’ is exclusively applied when according an Expected Loss (‘EL’) rating to specific listed or unlisted debt obligations, specifically when distinguishable security or collateral has been pledged to the holders of the debt, which improves their recovery prospects after an event of default (relative to senior claims).

Announcements Criteria Research

GCR Releases a Frequently Asked Questions Publication on State Owned Entities

GCR Ratings has released a Frequently Asked Questions (“FAQ”) publication on State Owned Entities (“SOEs”). The publication applies to issuer credit ratings and issue credit ratings (on both national and international scales) which have a meaningful component of Government interest, either directly through shareholding or indirectly by licensing and regulation.

Announcements Criteria

GCR publishes the Country Risk Score for Nigeria

Nigeria’s country risk score of 3.75 balances its strong economic base, supported by significant natural resources and large population, against low wealth levels, moderately weak institutional scores and currently restrained economic growth. Nigeria is one of Africa’s three largest economies, with a population of approximately 190mln people and contributing around 19% of continental GDP.