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 Axxela Limited an initial issuer rating of BBB+(NG); Outlook Stable.

Lagos Nigeria, 6 December 2018 — Global Credit Ratings has assigned national scale issuer ratings of BBB+(NG) and A2(NG) in the long term and short term respectively to Axxela Limited, with the outlook accorded as Stab...

06 Dec 2018 In Rating Notifications

GCR Places Niger State Government’s National Scale Ratings ‘Under Review’.

Lagos, 04 December 2018—Global Credit Ratings has placed the long term national scale Issuer rating of BBB-(NG) assigned to Niger State Government of Nigeria “Under Review”. Concurrently, the national scale rat...

05 Dec 2018 In Market Alerts

GCR Affirms Stanbic IBTC Bank PLC SNP Series 1 (Tranche A and Tranche B) Notes Ratings of A(NG)

Lagos, 03 December 2018—Global Credit Ratings has affirmed the national scale long-term credit ratings of A(NG) accorded to the Series 1 (Tranche A and Tranche B) Notes issued under Stanbic IBTC Bank PLC’s (“St...

05 Dec 2018 In Rating Notifications

GCR places Chellarams Plc’s national scale ratings ‘Under Review’

Lagos, 5 December 2018—Global Credit Ratings has placed Chellarams Plc’s (“Chellarams”) long term and short term national scale issuer ratings of BB(NG) and B(NG) respectively ‘Under Review’. Concurrently...

05 Dec 2018 In Market Alerts

GCR Accords Final Ratings to Union Bank of Nigeria Plc’s Series 1 and Series 2 Bonds.

Lagos Nigeria, 4 December 2018 — Global Credit Ratings has assigned a final public rating of ‘BBB+(NG)’ to both Union Bank of Nigeria Plc’s N7.2bn Series 1 Fixed Rate Bonds and N6.3bn Series 2 Fixed Rate Bonds, w...

04 Dec 2018 In Rating Notifications

GCR extends the ‘Under Review’ Notice on TrustBond Mortgage Bank Plc’s National Scale Ratings.

Lagos, 03 December 2018—Global Credit Ratings (“GCR”) has extended the ‘Under Review’ notice placed on TrustBond Mortgage Bank Plc’s national scale long-term and short-term ratings of BB+(NG) and A3(NG) respe...

04 Dec 2018 In Market Alerts

GCR places WAICA Reinsurance Corporation Plc’s Rating ‘Under Review’.

Lagos Nigeria, 4 December 2018 - Global Credit Ratings has today placed WAICA Reinsurance Corporation Plc’s national scale claims paying ability rating of A+(NG) ‘Under Review’.  Furthermore, the international...

04 Dec 2018 In Market Alerts

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Recent Rating Reports

05 Dec 2018: United Bank for Africa

05 Dec 2018: C&I Leasing Plc

05 Dec 2018: Nigeria Mortgage Refinance Company Plc

05 Dec 2018: Lafarge Africa Plc

05 Dec 2018: Gombe State Government of Nigeria

05 Dec 2018: Transcorp Hotels Plc

05 Dec 2018: Fidson Healthcare Plc

05 Dec 2018: Union Bank of Nigeria Plc

05 Dec 2018: First Bank of Nigeria Limited

05 Dec 2018: Stanbic IBTC Bank 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