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 affirms Union Bank of Nigeria Plc’s Series 1 and Series 2 Bonds Ratings of BBB+(NG)

Lagos Nigeria, 15 August 2019—Global Credit Ratings has today affirmed the national scale long term rating of BBB+(NG) accorded to the Series 1 and Series 2 Bonds issued under the N100bn Debt Issuance Programme(“...

15 Aug 2019 In Rating Notifications

GCR affirms NEM Insurance Plc’s Rating of A(NG); Outlook Stable

Lagos Nigeria, 14 August 2019 - Global Credit Ratings has affirmed the national scale claims paying ability rating assigned to NEM Insurance Plc of A(NG), with the outlook accorded as Stable. The rating is valid until Ju...

14 Aug 2019 In Rating Notifications

GCR Accords STL Trustees Limited A Rating of A(NG)(mq); Outlook Stable

Lagos Nigeria, 14 August 2019 - Global Credit Ratings has accorded a manager quality rating of A(NG)(mq) to STL Trustees Limited; with the outlook accorded as Stable. The rating are valid until June 2020. RATING RATION...

14 Aug 2019 In Rating Notifications

GCR Upgrades Rand Merchant Bank Nigeria Limited’s National Scale Rating to A+(NG); Outlook Stable.

Lagos Nigeria, 14 August 2019—Global Credit Ratings has upgraded Rand Merchant Bank Nigeria Limited national scale long term rating to A+(NG) and the short term was affirmed at A1(NG); with the outlook accorded as ...

14 Aug 2019 In Rating Notifications

GCR Assigns Indicative Rating of BBB+(NG) to ENG Funding SPV Plc’s Series 1 Bonds.

Lagos, 08 August 2019—Global Credit Ratings has accorded an indicative, public national scale long term rating of BBB+(NG) to ENG Funding SPV Plc’s Series 1 Bonds; with a Rating Watch Outlook. The rating is valid...

09 Aug 2019 In Rating Notifications

GCR downgrades Ecobank Nigeria Limited’s National Scale Rating to BBB+(NG); Outlook: Rating Watch.

Lagos Nigeria, 08 August 2019—Global Credit Ratings has downgraded the national scale ratings assigned to Ecobank Nigeria Limited to BBB+(NG) and A2(NG) in the long and short term respectively, with a Rating Watch ...

08 Aug 2019 In Rating Notifications

GCR Places Sterling Investment Management SPV PLC’s Series 1 Bonds of BBB(NG) ‘Under Review’.

  Lagos, Nigeria 02 August 2019—Global Credit Ratings has today placed ‘Under Review’ the national scale long term credit rating of BBB(NG) accorded to Sterling Investment Management SPV PLC’s N7.97bn (Seri...

02 Aug 2019 In Market Alerts

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Recent Rating Reports

29 Apr 2019: AIICO Insurance Plc

29 Apr 2019: Primero Transport Services Limited

29 Apr 2019: North South Power Company Limited

25 Mar 2019: Custodian Life Assurance Limited

25 Mar 2019: Lagos State Government of Nigeria

25 Mar 2019: Municipality Waste Management Contractors Limited

25 Mar 2019: Sovereign Trust Insurance Plc

25 Mar 2019: Ondo State Government of Nigeria

25 Mar 2019: Niger State Government of Nigeria

25 Mar 2019: Mixta Real Estate Plc

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) 904 9462-3, 904 9466, 0805 615 8393, 0803 352 7871

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