Ghana – GCR

GCR affirms African Export-Import Bank’s international scale rating of A-, balancing operating environment stress with strong mandate and robust financial profile

Jul 31, 2020

Rating Action Johannesburg, 31 July 2020 – GCR Ratings (‘GCR’) has affirmed African Export-Import Bank’s international scale long term and short term issuer ratings of…

Announcements Insurance Rating Alerts

GCR affirms NSIA Insurance Company Limited’s national scale financial strength rating of A-_(GH); Outlook Stable

Jul 30, 2020

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Rating action Johannesburg, 30 July 2020 – GCR Ratings (“GCR”) has affirmed NSIA Insurance Company Limited’s (“NSIA Insurance”) national scale financial strength rating of A-(GH),…

Announcements Insurance Rating Alerts

GCR downgrades Star Assurance Company Limited’s national scale financial strength rating to A_(GH); Outlook Negative

Jul 27, 2020

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Rating Action Johannesburg, 27 July 2020 – GCR Ratings (“GCR”) has downgraded Star Assurance Company Limited’s (“Star”) national scale financial strength rating to A(GH), from…

Announcements Financial Institutions Rating Alerts

GCR upgrades Fidelity Bank Ghana Limited’s national scale ratings reflecting good liquidity and resilient performance; Outlook Stable

Jul 23, 2020

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Rating action Johannesburg, 23 July 2020 – GCR Ratings (“GCR”) has upgraded Fidelity Bank Ghana Limited’s national scale long term and short term ratings to…

Announcements Financial Institutions Rating Alerts

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

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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 Insurance Rating Alerts

Mainstream Reinsurance Company Limited’s Ghanaian financial strength rating upgraded to AA-_(GH) and international scale financial strength rating maintained at B-; Outlooks Stable

Jun 25, 2020

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Rating Action Johannesburg, 25 June 2020 – GCR Ratings (“GCR”) has upgraded Mainstream Reinsurance Company Limited’s (“Mainstream Re”) national scale financial strength rating to AA-(GH),…

Announcements Insurance Rating Alerts

GCR affirms Activa Ghana’s national scale financial strength rating of A_(GH); Outlook Positive

Jun 24, 2020

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Rating Action Johannesburg, 24 June 2020 – GCR Ratings (“GCR”) has affirmed Activa International Insurance Company Limited’s (“Activa Ghana”) national scale financial strength rating of…

Announcements Financial Institutions Rating Alerts

GCR downgrades Ecobank Ghana Limited’s national scale long term issuer rating to A+_(GH); Outlook Stable

Jun 11, 2020

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Rating Action Johannesburg, 11 June 2020 – GCR Ratings (“GCR”) has downgraded Ecobank Ghana Limited’s (“Ecobank Ghana”) national scale long term and short term issuer…

Announcements Insurance Rating Alerts

GCR upgrades EIC’s Ghanaian financial strength rating to AA_(GH) on sustained strength in solvency measures; Outlook Stable

Jun 10, 2020

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Rating action Johannesburg, 10th June 2020 – GCR Ratings (“GCR”) has upgraded Enterprise Insurance Company Limited’s (“EIC”) national scale financial strength rating to AA(GH) from…

Announcements Criteria Research

GCR affirms the Ghanaian Financial Institutions’ Sector Risk Score of ‘2.5’ balancing on-going asset quality pressure and good profitability

May 29, 2020

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The Ghanaian financial institutions sector risk score of ‘2.5’ is restrained by the unquantified ramifications of the on-going COVID-19 pandemic and lower commodity prices, which pose major risks to the banking industry’s operations and performance. Ghanaian banks face asset quality deterioration linked to high exposure to oil and gas sectors as a result of low but increasing oil prices.