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 Primero Transport Services Limited an initial issuer rating of B+(NG); Outlook Stable.

Lagos Nigeria, 23 April 2019 — Global Credit Ratings has assigned national scale issuer ratings of B+(NG) and B(NG) in the long term and short term respectively to Primero Transport Services Limited, with the outlook a...

23 Apr 2019 In Rating Notifications

GCR Extends Validity of GEL Utility Funding SPV Plc’s Series 1 Guaranteed Bonds’ Indicative Rating

Lagos, 23 April 2019 - Global Credit Ratings (“GCR”) has extended the validity of the indicative long-term public credit rating of AAA(NG)(sf) accorded to GEL Utility Funding SPV Plc’s (“GEL-SPV”, or “the Iss...

23 Apr 2019 In Market Alerts

GCR Withdraws Mortgage Warehouse Funding Limited’s Asset Backed Commercial Paper Ratings

Lagos, 18 April 2019— Global Credit Ratings (“GCR”) has withdrawn the final public short-term national scale credit ratings ‘A1(NG)(sf)’ and ‘A1-(NG)(sf)’ respectively, previously accorded to the Senior and...

18 Apr 2019 In Market Alerts

GCR Places Forte Oil PLC’s National Scale Ratings ‘Under Review’.

Lagos, 16 April 2019—Global Credit Ratings has placed Forte Oil PLC’s (“Forte” or “the Company”) long term and short term national scale Issuer ratings of A-(NG) and A1-(NG) respectively ‘Under Review...

16 Apr 2019 In Market Alerts

GCR Affirms NSP-SPV Powercorp PLC’s Series 1 Guaranteed Bond Rating of AAA(NG)(sf); Outlook Stable

Lagos, 16 April, 2019—Global Credit Ratings (“GCR”) has affirmed the final public long-term credit rating of AAA(NG)(sf) assigned to NSP-SPV Powercorp PLC’s (“NSP-SPV”, or “the Issuer”) N8.5bn Series ...

16 Apr 2019 In Rating Notifications

GCR Accords an Indicative Rating to Primero BRT Securitisation SPV’s Series 1 Fixed Rate Bonds.

Lagos Nigeria, 15 April 2019 — Global Credit Ratings (“GCR”) has assigned an indicative public national scale long-term rating of ‘BBB(NG)(sf)’ to Primero BRT Securitisation SPV Plc’s proposed N21.5bn Series ...

15 Apr 2019 In Rating Notifications

GCR Affirms AIICO Insurance Plc’s Rating of A(NG); Outlook Stable

Lagos Nigeria, 12 April 2019 - Global Credit Ratings has affirmed the national scale claims paying ability rating assigned to AIICO Insurance Plc of A(NG), with the outlook accorded as Stable. The rating is valid until N...

12 Apr 2019 In Rating Notifications

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Recent Rating Reports

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

05 Dec 2018: United Bank for Africa

05 Dec 2018: C&I Leasing Plc

05 Dec 2018: Nigeria Mortgage Refinance Company 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