Nigeria – GCR

Nigeria

GCR assigns an Indicative Rating of BBB+_(NG)_(IR) to Accelerex SPV Plc’s N6bn Series 1 Senior Unsecured Bonds, Outlook Stable

May 13, 2022

Tagged in: Nigeria

Lagos, 13 May 2022 – GCR Ratings (“GCR”) has assigned a national scale long term indicative Issue rating of BBB+(NG)(IR) to Accelerex SPV Plc’s proposed…

Announcements Financial Institutions Rating Alerts

GCR downgrades FSDH Asset Management Limited’s national scale long term Issuer rating to BBB+_(NG) from A-_(NG), due to significant financial profile erosion; Outlook Stable

May 12, 2022

Tagged in: Nigeria

Lagos, 12 May 2022 – GCR Ratings (“GCR”) has downgraded FSDH Asset Management Limited’s national scale long-term issuer rating to BBB+(NG) from A-(NG), while maintaining…

Announcements Financial Institutions Rating Alerts

GCR Assigns Long-term and Short-term National Scale Issuer Ratings of BBB+_(NG) and A2_(NG) respectively to NPF Microfinance Bank Limited, Outlook Stable.

May 11, 2022

Tagged in: Nigeria

Lagos, 11 May 2022 – GCR Ratings (“GCR”) has assigned NPF Microfinance Bank Plc national scale long-term and short-term issuer ratings of BBB+(NG) and A2(NG)…

Announcements Financial Institutions Rating Alerts

GCR Affirms Development Bank of Nigeria Plc’s long and short-term national scale Issuer ratings of AAA_(NG)/A1+_(NG) respectively, Outlooks Stable.

May 5, 2022

Tagged in: Nigeria

Lagos, 05 May 2022 – GCR Ratings (“GCR”) has affirmed Development Bank of Nigeria Plc’s (“DBN”) national scale long- and short-term issuer ratings of AAA(NG)…

Announcements Research

GCR updates the Nigerian Corporate Sector Risk Scores

May 2, 2022

Tagged in: Nigeria

GCR Ratings (“GCR”) has updated its Nigerian Corporate Sector Risk Scores. The following Sector Risk Scores have been updated since the last publication:
Inclusion of a risk score for Commercial Property, initial score of 2.50

Announcements Corporate Rating Alerts

GCR affirms Nigerian Breweries Plc’s national scale long and short term Issuer ratings of AA+_(NG) /A1+_(NG), with the Outlook revised to Positive.

Apr 29, 2022

Tagged in: Nigeria

Lagos, Nigeria, 29 April 2022 – GCR Ratings (“GCR”) has affirmed the national scale long term and short term Issuer ratings of AA+(NG) and A1+(NG)…

Announcements Corporate Rating Alerts

GCR revises Dangote Cement Plc’s Long Term Issuer rating to AA+_(NG) on group cap, following initial ratings recently assigned to Dangote Industries Limited, Stable Outlook.

Apr 29, 2022

Tagged in: Nigeria

Lagos, Nigeria, 29 April 2022 – GCR Ratings (“GCR”) has revised Dangote Cement Plc’s national scale long-term Issuer rating to AA+(NG), from AAA(NG) previously, and…

Announcements Financial Institutions Rating Alerts

GCR Places Wema Bank Plc’s BBB-_(NG)/A3_(NG) Nigerian National Scale Issuer credit ratings on “Review Extension”.

Apr 29, 2022

Tagged in: Nigeria

Lagos, 29 April 2022 – GCR Ratings (“GCR”) has placed Wema Bank Plc’s national scale long and short-term issuer credit ratings of BBB-(NG) and A3…

Announcements Financial Institutions Rating Alerts

GCR affirms Chapel Hill Denham Money Market Fund’s national scale fund rating of AA-_(NG)_(f). Outlook Stable

Apr 29, 2022

Tagged in: Nigeria

Lagos, 29 April 2022 – GCR Ratings (“GCR”) has affirmed the national scale fund rating assigned to Chapel Hill Denham Money Market Fund AA-(NG)(f), with…

Announcements Financial Institutions Rating Alerts

GCR places FSDH Asset Management Limited’s A-_(NG)/A2_(NG) National Scale Issuer ratings on “Review Extension”

Apr 29, 2022

Tagged in: Nigeria

Lagos, 29 April 2022 – GCR Ratings (“GCR”) has placed FSDH Asset Management Limited’s national scale long and short-term issuer ratings of A-(NG) and A2(NG)…

GCR's RESPONSE TO COVID-19

GCR continues to monitor the ever-evolving situation surrounding the COVID-19 pandemic. The health and well-being of our staff members and all our stakeholders is of the utmost importance to us.

GCR has taken a number of precautionary measures to minimise the likelihood of transmission and impact, while our staff members have been strongly encouraged to work remotely from home.

GCR has in place secure technological platforms that will enable the best possible remote engagements with our rated issuers, the investor community and all other market participants.

GCR continues to actively monitor the countries, sectors and issue(r)s within its ratings universe, and will continue to provide timely and accurate credit ratings, alongside useful credit research regarding market developments.

GCR thanks you for your continued support and trust, particularly in these challenging times.