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 Assigns InfraCredit a National Scale Rating of AAA(NG); Outlook Stable.

Lagos, 24 July 2017—Global Credit Ratings has accorded Infrastructure Credit Guarantee Company Limited (“InfraCredit” or “the company”) a first time, national scale long-term rating of AAA(NG); with the out...

24 Jul 2017 In Rating Notifications

GCR affirms Forte Oil Plc’s Issuer and Bond Ratings at A-(NG); Outlook Stable

Lagos, 12 July 2017—Global Credit Ratings has affirmed the national scale issuer ratings assigned to Forte Oil Plc of A-(NG) and A1-(NG) in the long term and short term respectively; with the outlook accorded as St...

12 Jul 2017 In Rating Notifications

GCR accords Niger Insurance Plc A Financial Strength rating of BB+(NG); Outlook Stable.

Lagos Nigeria, 12 July, 2017—Global Credit Ratings has accorded a financial strength rating to Niger Insurance Plc at BB+(NG), with the rating outlook accorded as Stable. The rating is valid until May 2018. SUMMAR...

12 Jul 2017 In Rating Notifications

GCR accords an indicative Bond rating of AA-(NG) to Lagos State Govt.of Nigeria’s N100bn Bond Issue

Lagos, 11 July 2017—Global Credit Ratings has assigned an indicative public rating of AA-(NG) to Lagos State Government of Nigeria’s (“Lagos State”, “the State”, or “the Issuer”) proposed Programme 3 ...

11 Jul 2017 In Rating Notifications

GCR Affirms Fidson Healthcare Plc’s Issuer Rating of BBB(NG); Outlook Stable.

Lagos Nigeria, 05 July 2017 — Global Credit Ratings has affirmed the national scale Issuer ratings assigned to Fidson Healthcare Plc of BBB(NG) and A3(NG) in the long term and short term respectively; with the outlook ...

06 Jul 2017 In Rating Notifications

GCR assigns Viathan Funding PLC a first time long term Issuer rating of BBB-(NG); Outlook Stable

Lagos, 5 July 2017—Global Credit Ratings has assigned long term and short term national scale Issuer ratings to Viathan Funding PLC of BBB-(NG) and A3(NG) respectively. The ratings have been placed on a ‘Stable...

05 Jul 2017 In Rating Notifications

GCR places Wema Funding SPV Plc’s Series 1 Bonds’ national scale rating ‘Under Review’.

Lagos, 01 July 2017—Global Credit Ratings (“GCR”) has today placed the national scale long-term credit rating accorded to the Series 1 Bonds, issued under Wema Funding SPV Plc N50bn Debt Issuance Programme (“DIP...

04 Jul 2017 In Market Alerts

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Recent Rating Reports

22 Jun 2017: Municipality Waste Management Contractors Limited

22 Jun 2017: Citihomes Finance Company Limited

22 Jun 2017: Dangote Cement Plc

22 Jun 2017: Ecobank Nigeria Limited

22 Jun 2017: Custodian Life Assurance Limited

22 Jun 2017: Capital Trust Investment & Asset Management Limited

03 May 2017: Dufil Prima Foods PLC

26 Apr 2017: FCMB Financing SPV Plc

26 Apr 2017: Wema Funding SPV Plc

26 Apr 2017: Stanbic IBTC Holdings 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) 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