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 Indicative Rating of BBB(NG) to Fortis Microfinance Bank Plc’s N10bn Bonds

Lagos, 25 September 2017—Global Credit Ratings has accorded an indicative, public national scale long term rating of BBB(NG) to Fortis Microfinance Bank Plc’s N10bn Bonds; with a Stable Outlook. The rating is...

22 Sep 2017 In Rating Notifications

GCR Assigns Fortis Microfinance Bank Plc a National Scale Rating of BBB-(NG); Outlook Stable.

Lagos, 25 September 2017—Global Credit Ratings has accorded Fortis Microfinance Bank Plc (“Fortis” or “the bank”)  first time, national scale ratings of BBB-(NG) and A3(NG), in the long...

22 Sep 2017 In Rating Notifications

GCR Affirms Nigeria Mortgage Refinance Company Plc’s Series 1 Bonds Rating of AAA(NG)(sf); Outlook Stable.

Lagos, 21 September 2017—Global Credit Ratings has affirmed the national scale long-term credit rating of AAA(NG)(sf) accorded to Nigeria Mortgage Refinance Company Plc’s Series 1 (N7.68bn) Bonds; with the ou...

21 Sep 2017 In Rating Notifications

GCR Affirms Nigeria Mortgage Refinance Company Plc’s National Scale Rating of BBB+(NG); Outlook Stab

Lagos, 19 September 2017—Global Credit Ratings has affirmed Nigeria Mortgage Refinance Company Plc’s public national scale ratings of BBB+(NG) and A2(NG), in the long and short term respectively; with the out...

19 Sep 2017 In Rating Notifications

GCR affirms Transcorp Hotels PLC of Nigeria’s National Scale Rating at A-(NG); Outlook Stable

Lagos, 18 September 2017—Global Credit Ratings has affirmed the long term and short term national scale issuer ratings of A-(NG) and A2(NG) respectively, assigned to Transcorp Hotels PLC with the outlook accorded a...

19 Sep 2017 In Rating Notifications

GCR affirms Dangote Cement Plc’s rating of AA+(NG); Outlook Stable

Lagos, 11 September 2017—Global Credit Ratings has affirmed the long term and short term national scale issuer ratings of AA+(NG) and A1+(NG) respectively, assigned to Dangote Cement Plc, with the outlook accorded ...

11 Sep 2017 In Rating Notifications

GCR assigns North South Power Company Limited a first time Issuer rating of BBB+(NG); Outlook Stable

Lagos, 11 September, 2017—Global Credit Ratings has assigned long term and short term national scale Issuer ratings to North South Power Company Limited of BBB+(NG) and A2(NG) respectively, with a Stable outlook ac...

11 Sep 2017 In Rating Notifications

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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