The open economy of Mauritius is particularly susceptible to the global response to the COVID-19 pandemic. Domestic corporate debt is also considered to be quite high and external risk is higher for the banking system and country than regional peers.
GCR Ratings is very pleased to announce that it has been recognised as an ECAI by the Bank of Mauritius, under the Direct Recognition method in the corporate segment. This is in addition to already being licensed as a credit rating agency by the Financial Services Commission in Mauritius.
GCR combines elements of the country risk and sectoral risk analysis, blended across countries for entities operating across multiple jurisdictions, to anchor an insurer to its current operating conditions.