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 an ‘A-(NG)’ indicative rating to Depthwize Funding Company Plc’s Series 1 Secured Bonds

Lagos, 8 February 2018—Global Credit Ratings has accorded an indicative public long term rating of ‘A-(NG) to the Series 1 Senior Secured Fixed Rate Bonds (“Bonds” or “Series 1 Bonds”) to be issued by Dep...

08 Feb 2018 In Rating Notifications

GCR extends AIICO Insurance Plc’s ‘Under Review’.

Lagos Nigeria, 5 February 2018 - Global Credit Ratings (“GCR”) has today extended AIICO Insurance Plc’s ‘Under Review’. While the ‘Under Review’ recently expired, GCR expects to publicly release the update...

05 Feb 2018 In Market Alerts

GCR affirms Aarti Steel Nigeria Limited’s Rating of BBB-(NG); Outlook Stable

Lagos, 05 February 2018—Global Credit Ratings has affirmed the national scale ratings assigned to Aarti Steel Nigeria Limited at BBB-(NG) and A3(NG) in the long term and short term respectively, with the outlook ac...

05 Feb 2018 In Rating Notifications

GCR affirms Union Bank of Nigeria Plc’s National Scale Rating of BBB+(NG); Outlook Stable.

Lagos Nigeria, 1 February 2018—Global Credit Ratings has today affirmed the national scale ratings assigned to Union Bank of Nigeria Plc of BBB+(NG) and A2(NG) in the long and short term respectively, with the outl...

01 Feb 2018 In Rating Notifications

GCR Extends Fortis Microfinance Banks Plc N10bn Bonds’ Indicative Rating of BBB(NG).

Lagos, 31 January 2018—Global Credit Ratings has today extended Fortis Microfinance Bank Plc N10bn Bonds’ indicative, public national scale long term rating of BBB(NG)  with a Stable Outlook. GCR expects to ...

31 Jan 2018 In Market Alerts

GCR Extends the “Under Review” Notice Placed on Capital Trust’s Management Quality Rating

Lagos, 31 January 2018—Global Credit Ratings (“GCR”) has today extended the ‘Under Review’ notice placed on Capital Trust Investment & Asset Management Limited’s national scale management quality rating o...

31 Jan 2018 In Market Alerts

GCR assigns first time ratings to Lagos State Govt.of Nigeria’s Series II Bonds(tranche III and IV)

Lagos, 31 January 2018—Global Credit Ratings has assigned first time ratings to Lagos State Government of Nigeria (“Lagos” or “the State”), Series II, tranche III and IV bonds at AA-(NG), with the outlook a...

31 Jan 2018 In Rating Notifications

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Recent Rating Reports

08 Feb 2018: Viathan Funding Plc

08 Feb 2018: Nigeria Reinsurance Corporation

08 Feb 2018: Viathan Funding Plc

08 Feb 2018: Union Bank of Nigeria Plc

08 Feb 2018: Lagos State Government of Nigeria

08 Feb 2018: Aarti Steel Nigeria Limited

21 Dec 2017: Nasarawa State Government of Nigeria

19 Dec 2017: Gombe State Government of Nigeria

14 Dec 2017: UPDC Real Estate Investment Trust

14 Dec 2017: Custodian Life Assurance 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) 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