Africa’s no.1 rating agency

Accounting for the majority of all ratings accorded on the African continent.

Welcome

GCR rates the full spectrum of security classes and accords both International Scale and National Scale ratings, and together with its international affiliates, rates almost 3000 organisations and debt issues - spanning 4 continents.

Our rating and research activities can be sub-divided into the following key sectors: 1) Financial Institutions: banks and non-bank financial institutions 2) Insurance: short term insurance, assurance, reinsurance & healthcare 3) Corporate and Public Sector Debt: corporates & industrial borrowers; MFI’s; parastatals, utilities & local authorities and 4) Structured Finance & Securitisation.


  • The history of GCR

    The history of GCR

    Global Credit Rating Co. (“GCR”) can trace its origins back to 1996 when it was established as the African Arm of the New York Stock Exchange-listed Duff & Phelps. Very rapid growth followed and within only a short period the group had established itself as the market leader, accounting for the majority of all ratings accorded on the African continent. GCR’s African regional headquarters are based in Johannesburg, with its main SADC, West, and East African regional offices established in Harare, Lagos and Nairobi respectively.

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  • An overview of GCR’s rating definitions

    An overview of GCR’s rating definitions

    GCR defines credit risk as the risk that an entity may not meet its contractual financial obligations as they come due. Credit ratings do not address other risks such as, but not limited to, fraud, organised crime, market liquidity, market value risk, or price volatility. Credit ratings are opinions and not statements of current or historical fact.

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  • An overview of GCR’s subscription services

    An overview of GCR’s subscription services

    GCR’s overriding objective has always been to establish itself as the most credible and cost effective source of information in the marketplace and our exceptional market penetration reflects this subscriber emphasis. In view of the above, GCR established the largest subscriber base in the industry in less than 4 years.

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  • Benefits of a GCR Rating

    Benefits of a GCR Rating

    A favourable rating can immediately result in an increased pool of investors, can facilitate direct access to capital markets and can ultimately result in reduced funding costs. Furthermore, the extensive distribution of the detailed rating report can prove to be a highly effective complement to an organisation’s own investor relations activities.

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Latest Headlines


Mortgage Warehouse Funding Limited’s Asset Backed Commercial Paper – Final Ratings

Lagos, 16 November 2017—Global Credit Ratings (“GCR”) has accorded final public short-term ratings of ‘A1(NG)(sf)’ and ‘A1-(NG)(sf)’ respectively to the Senior and Subordinated Commercial Paper Notes (...

16 Nov 2017 In Rating Notifications

GCR Affirms UBA’s MTNP 1 (Series 2) and MTNP 2 (Series 1) Notes Ratings of A(NG).

Lagos, 16 November 2017—Global Credit Ratings has affirmed the national scale long term credit ratings of A(NG) accorded to the following Series’ of Notes issued under United Bank for Africa Plc’s (“U...

16 Nov 2017 In Rating Notifications

GCR Upgrades C&I Leasing Plc’s Issuer Rating to BBB(NG); Outlook Stable

Lagos Nigeria, 09 November 2017 — Global Credit Ratings has upgraded the long term national scale Issuer rating assigned to C&I Leasing Plc to BBB(NG) and affirmed the short term at A3(NG); with the outlook accorde...

09 Nov 2017 In Rating Notifications

GCR Affirms Tower Funding Plc’s Series 1 Tranche A and Tranche B Bond Ratings

Lagos, 1 November 2017—Global Credit Ratings has affirmed the national scale ratings assigned to Tower Funding Plc’s Medium Term Note Programme as follows: Series 1 Tranche A: CCC(NG)(sf) Series 1 Tranche B: B(N...

01 Nov 2017 In Rating Notifications

GCR Affirms TrustBond Mortgage Bank Plc’s Servicer Quality Rating of SQ3+(NG); Stable Outlook.

Lagos Nigeria, 01 November 2017—Global Credit Ratings has affirmed TrustBond Mortgage Bank Plc’s national scale primary servicer quality rating# of SQ3+(NG); with the outlook accorded as Stable.  The rating ...

01 Nov 2017 In Rating Notifications

GCR Affirms TrustBond Mortgage Bank Plc’s National Scale Rating of BB+(NG); Outlook Stable.

Lagos Nigeria, 01 November 2017—Global Credit Ratings has affirmed TrustBond Mortgage Bank Plc’s national scale ratings of BB+(NG) and A3(NG), in the long term and short term respectively; with the outlook accord...

01 Nov 2017 In Rating Notifications

GCR affirms Law Union and Rock Insurance Plc’s Rating of A-(NG); Outlook Stable

Lagos Nigeria, 01 November 2017 - Global Credit Ratings has affirmed the national scale claims paying ability rating assigned to Law Union and Rock Insurance Plc of A-(NG); with the outlook accorded as Stable. The rating...

01 Nov 2017 In Rating Notifications

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Recent Rating Reports

10 Oct 2017: Rand Merchant Bank Nigeria Limited

10 Oct 2017: Leadway Assurance Company Limited

10 Oct 2017: North South Power Company Limited

10 Oct 2017: First Bank of Nigeria Limited

10 Oct 2017: Nigeria Mortgage Refinance Company Plc

10 Oct 2017: Dangote Cement Plc

10 Oct 2017: Fortis Microfinance Bank Plc

10 Oct 2017: Flour Mills of Nigeria

10 Oct 2017: Sterling Investment Management SPV PLC

10 Oct 2017: FSDH Merchant Bank Limited

Purchase Rating Reports

Parties interested in purchasing individual or sectoral rating reports and/or bulletins from Global Credit Rating Company Limited are kindly requested to contact us on the following telephone numbers or email address.

Telephone: (+2341) 462 2648, 460 5001, 0805 615 8393, 0803 352 871

Email: bisi@warltd.com

Email: tunde@globalratings.net

Recent Bulletin Releases
Rating Sectors
Credit Ratings

For a full list of Credit Ratings performed by Global Credit Ratings Company Limited please click here