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 Affirms Sovereign Trust Insurance Plc’s Rating of A-(NG); Outlook Stable

Lagos Nigeria, 16 April 2018 - Global Credit Ratings has affirmed the national scale claims paying ability rating assigned to Sovereign Trust Insurance Plc of A-(NG); with the outlook accorded as Stable. The rating is va...

17 Apr 2018 In Rating Notifications

GCR assigns Nigerian Breweries Plc an initial issuer rating of AA(NG); Outlook Stable.

Lagos Nigeria, 11 April 2018 — Global Credit Ratings has assigned national scale issuer ratings of AA(NG) and A1+(NG) in the long term and short term respectively to Nigerian Breweries Plc, with the outlook accorded as...

12 Apr 2018 In Rating Notifications

Expiry of Niger Insurance Plc’s Financial Strength Rating

Lagos Nigeria, 12 April 2018—The national scale claims paying ability rating of B+(NG), accorded to Niger Insurance Plc by Global Credit Rating has expired. RATING RATIONALE The rating expired without affirmation....

12 Apr 2018 In Market Alerts

GCR Places FBN Mortgages Limited’s Primary Servicer Quality Rating ‘Under Review’.

Lagos, 02 April 2018—Global Credit Ratings (“GCR”) has placed FBN Mortgages Limited’s national scale primary servicer quality rating of SQ3+(NG) ‘Under Review’.  While the rating recently expired, GCR is...

03 Apr 2018 In Market Alerts

GCR affirms AIICO Insurance Plc’s rating of A(NG); Outlook Negative

Lagos Nigeria, 03 April 2018 - 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 Negative. The rating is valid until...

03 Apr 2018 In Rating Notifications

GCR Affirms WAICA Reinsurance’s International Claims Paying Ability Rating Of B+; Outlook Stable.

Lagos Nigeria, 3 April 2018—Global Credit Ratings has affirmed the international scale claims paying ability ratings assigned to WAICA Reinsurance Corporation Plc of B+; with the outlooks accorded as Stable. Furthe...

03 Apr 2018 In Rating Notifications

GCR Places FBN Mortgages Limited’s National Scale Ratings ‘Under Review’.

Lagos, 02 April 2018—Global Credit Ratings (“GCR”) has placed FBN Mortgages Limited’s national scale long-term and short-term ratings of BB+(NG) and A3(NG) respectively ‘Under Review’.  While the ratings...

02 Apr 2018 In Market Alerts

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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