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


GCR accords a final Bond rating of A-(NG) to Dufil Prima Foods PLC’s N10bn Series 1 Bond Issue

Lagos, 17 October 2017—Global Credit Ratings has accorded a final public rating of A-(NG) to Dufil Prima Foods PLC’s (“Dufil”, or “the Issuer”) Series 1 N10bn Unsecured Fixed Rate Bonds (“the Bonds”);...

17 Oct 2017 In Rating Notifications

GCR accords a final Note rating of A(NG) to Municipality Waste Mgt. Contractors Ltd.’s N20.3bn Note

Lagos, 17 October 2017—Global Credit Ratings has accorded a final public rating of A(NG) to Municipality Waste Management Contractors Limited’s (“MWMCL”, the “Contractors” or the “Issuer”) Series 1 N2...

17 Oct 2017 In Rating Notifications

GCR affirms Lafarge Africa Plc’s Issuer and Bond ratings at A+(NG); Outlook Stable

Lagos, 11 October 2017—Global Credit Ratings has affirmed the national scale Issuer ratings assigned to Lafarge Africa Plc of A+(NG) and A1(NG) in the long term and short term respectively; with the ratings placed ...

11 Oct 2017 In Rating Notifications

GCR extends Standard Alliance Insurance Plc’s ‘Under Review’

Lagos Nigeria, 9 October 2017 - Global Credit Ratings (“GCR”) has today extended Standard Alliance Insurance Plc’s ‘Under review’. While the ‘Under Review’ recently expired, GCR expects to publicly release ...

09 Oct 2017 In Market Alerts

GCR downgrades Niger Insurance Plc’s Financial Strength rating of B+(NG); Rating Watch.

Lagos Nigeria, 9 October 2017—Global Credit Ratings has downgraded the financial strength rating of Niger Insurance Plc to B+(NG), with the rating placed on Rating Watch. The rating is valid until March 2018. SUM...

09 Oct 2017 In Rating Notifications

GCR affirms Stanbic IBTC Bank PLC’s National Scale Rating of AA-(NG); Outlook Stable.

Lagos Nigeria, 06 October 2017—Global Credit Ratings has today affirmed the national scale ratings assigned to Stanbic IBTC Bank PLC of AA-(NG) and A1+(NG) in the long and short term respectively; with the outlook ...

06 Oct 2017 In Rating Notifications

GCR affirms FSDH Merchant Bank Limited’s National Scale Rating of A-(NG); Outlook Stable.

Lagos Nigeria, 06 October 2017—Global Credit Ratings has affirmed the national scale ratings assigned to FSDH Merchant Bank Limited of A-(NG) and A2(NG) in the long and short term respectively; with the outlook acc...

06 Oct 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