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Lagos, 29 June 2022 – GCR Ratings (“GCR”) has upgraded the national scale long-term issue rating accorded to Stanbic IBTC Bank PLC’s Structured Note Programme (“SNP”) 2 Series 1 Senior Unsecured Notes to AAA(NG) from AA+(NG), with a Stable Outlook. Issue Rating class Rating scale Rating Outlook N30bn Series 1 Senior Unsecured Long Term Issue...

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Lagos, 29 June 2022 – GCR Ratings (“GCR”) has upgraded the national scale long-term issuer rating assigned to Stanbic IBTC Bank PLC to AAA(NG) from AA+(NG) and affirmed the national scale short-term issuer rating at A1+(NG), with a Stable Outlook. Rated Entity Rating class Rating scale Rating Outlook Stanbic IBTC Bank PLC Long Term Issuer...

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Lagos, 29 June 2022 – GCR Ratings (“GCR”) has affirmed the national scale long term and short term Issuer ratings of BBB-(NG) and A3(NG) respectively assigned to Coleman Technical Industries Limited, with the Outlook revised to Positive. Rated Entity / Issue Rating class Rating scale Rating Outlook Coleman Technical Industries Limited Long Term Issuer National...

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Rating action Johannesburg, 29th June 2022 – GCR Ratings (“GCR”) has affirmed Credit Guarantee Insurance Corporation of Africa Limited’s (“CGIC”) national scale financial strength rating of AA(ZA); with the Outlook revised to Positive. Rated entity Rating class Rating scale Rating Outlook/Watch Credit Guarantee Insurance Corporation of Africa Limited Financial strength National AA(ZA) Positive Outlook Simultaneously,...

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Rating Action Johannesburg, 29 June 2022 – GCR Ratings (“GCR”) has affirmed the national scale long term and short-term issuer ratings assigned to AECI Limited (“AECI” or the “group”) of A+(ZA) and A1(ZA) respectively, and revised the Outlook from Stable to Positive. Rated Entity Rating class Rating scale Rating Outlook / Watch AECI Limited Long...

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Lagos, 28 June 2022 – GCR Ratings (“GCR”) has affirmed Rand Merchant Bank Nigeria Limited’s national scale long and short-term issuer ratings of AA-(NG) and A1+(NG) respectively, with the Outlook revised to Positive from Stable. Rated Entity Rating class Rating scale Rating Outlook/Watch Rand Merchant Bank Nigeria Limited Long Term Issuer National AA-(NG) Positive Outlook...

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Rating action Ebene, 28 June 2022 – GCR Ratings (“GCR”) has extended the Negative Watch on Activa Assurances Limited’s (“Activa Cameroon”) national scale financial strength rating of A+(CM). The rating process is on hold while GCR awaits the finalisation of the 2021 audited financial statements for Activa Finances Ltd (the holding company). GCR expects to...

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Rating action Johannesburg, 28 June 2022 – GCR Ratings (“GCR”) has upgraded Fidelity Bank Ghana Limited’s national scale long-term issuer rating from A(GH) to A+(GH) and affirmed the short-term issuer rating of A1(GH), with a Stable Outlook. Rated Entity Rating class Rating scale Rating Outlook/Watch Fidelity Bank Ghana Limited Long Term issuer National A+(GH) Stable...

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Rating Action Nairobi, 27 June 2022 – GCR Ratings (“GCR”) has revised its Outlook for Laikipia County Government to ‘Evolving’ from ‘Stable’. The national scale Long and Short-term Issuer ratings remain unchanged at BBB-(KE) and A3(KE) respectvely Rated Entity / Issue Rating class Rating scale Rating Outlook / Watch County Government of Laikipia Long Term...

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Rating action Johannesburg, 27 June 2022 – GCR Ratings (“GCR”) has affirmed Uganda Reinsurance Company Limited’s (“Uganda Re”) national scale financial strength rating of A+(UG), with the Outlook maintained as Stable. Rated entity Rating class Rating scale Rating Outlook/Watch Uganda Reinsurance Company Limited Financial strength National A+(UG) Stable Outlook Rating rationale Uganda Re’s national scale...

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