Terms & Conditions
Contact Us
© 2020 GCR research. All Rights Reserved
South Africa
UploadedAug 2020
Octodec’s portfolio quality assessment is constrained by high concentration to properties in the inner cities of Pretoria and Johannesburg, a...
South Africa
UploadedAug 2020
The rating action reflects the unchanged capital structure post annual review, asset performance and our credit and cash flow analysis using the mo...
South Africa
UploadedJul 2020
GCR Ratings assigned an indicative issue credit rating to the Class A28 Notes to be issued under the South African Securitisation Programme (RF) Li...
South Africa
UploadedJul 2020
The downgrade to SANRAL’s international scale rating reflects GCR’s view of a weaker domestic fiscal position, with deeply negative eco...
Ghana
UploadedJul 2020
The analysis on Ecobank Ghana Limited reflects the strengths and weaknesses of the wider Ecobank Ghana Group. The downgrade takes into account the...
Kenya
UploadedJul 2020
RA has developed a unique business model that provides construction, integrated facilities management and other services to a range of internationa...
South Africa
UploadedJun 2020
The ratings reflect AECI Limited’s fiscal discipline, demonstrably robust liquidity, as well as the strong global positioning of its Mining S...
South Africa
UploadedMay 2020
The ratings on African Oxygen Limited reflect the strong funding profile, underpinned by robust cash generation despite sustained weakness in the S...
Namibia
UploadedMay 2020
The ratings counterbalance Oryx Properties Limited’s (“Oryx” or “the fund”) small and highly concentrated portfolio a...
South Africa
UploadedMay 2020
The sound performance of Emira Property Fund Limited’s (“Emira”, “the REIT” or “the fund”) small but rela...
South Africa
UploadedMay 2020
Discovery Health Medical Scheme’s (“DHMS”) rating is supported by the scheme’s very strong membership profile (market leadi...
South Africa
UploadedMay 2020
The Issuer is a Rand Merchant Bank managed structured funding vehicle that advances rand denominated overnight call loans to South African corporat...
South Africa
UploadedApr 2020
Fox Street 6 (RF) Ltd is a Residential Mortgage Backed Securities (“RMBS”) Securitisation of home loans originated by Investec Bank Ltd...
South Africa
UploadedApr 2020
Fox Street 3 (RF) Ltd is a Residential Mortgage Backed Securities (“RMBS”) Securitisation of home loans originated by Investec Bank Ltd...
South Africa
UploadedMar 2020
The ratings on Netcare Limited reflect the group’s modest leverage profile, alongside its strong domestic market position and stable earnings...
Kenya
UploadedMar 2020
The ratings reflect the County Government of Makueni’s stable financial profile underpinned by the consistent transfers from National Governm...
Kenya
UploadedMar 2020
The ratings on the County Government of Kisumu reflect the deterioration in operating performance and weak audit outcomes. This is counterbalanced...
Kenya
UploadedMar 2020
The ratings on the County Government of Bungoma (“Bungoma County”) reflects its strong financial profile and ongoing government support...
Tanzania
UploadedMar 2020
The Heritage Insurance Company Tanzania’s national scale financial strength rating reflects a strong financial profile, which is complemented...
South Africa
UploadedMar 2020
GCR Ratings affirmed the short-term programme rating assigned to the Class A Notes issued by Vineyard Road Investments (RF) Ltd under the Vineyard...
South Africa
UploadedFeb 2020
On 21 February 2020, GCR Ratings (“GCR”) affirmed the public short-term issue Programme credit rating to the Senior Secured ABCP Series...
Mozambique
UploadedFeb 2020
The national scale financial strength rating of Global Alliance Seguros, S.A. reflects its access to operational and technical support from the par...
South Africa
UploadedFeb 2020
GCR Ratings affirmed the national scale short-term credit ratings of ‘A1+(ZA)(sf)’ assigned to the Asset Backed Commercial Paper ...
South Africa
UploadedJan 2020
Hosmed's national scale financial strength rating reflects the scheme’s adequate solvency and strong liquidity. Offsetting these is the l...
South Africa
UploadedJan 2020
GCR Ratings assigned public long-term issue credit ratings to AB Finco 1 (RF) Limited (“AB Finco 1” or the “Issuer”)...
South Africa
UploadedJan 2020
Chubb SA rating is underpinned by a strong financial profile which reflects a high level of capital and liquidity strength and sound earnings. The...
South Africa
UploadedJan 2020
Fedhealth Medical Scheme’s (“Fedhealth”) rating is underpinned by a strong financial profile (a function of strong solvency, soun...
South Africa
UploadedDec 2019
Centriq Insurance Company Limited's (“Centriq”) national scale financial strength rating reflects a high level of stability within...
South Africa
UploadedDec 2019
ETH is a key hub of economic activity, representing approximately 7% of domestic GDP and just over 60% of the KwaZulu Natal province’s produc...
South Africa
UploadedDec 2019
Medshield is a not-for-profit medical scheme operating in South Africa, providing medical cover to approximately 165,401 beneficiaries at FY18. The...
South Africa
UploadedDec 2019
SASP 2 is the second of three series of the R5bn Multi-Seller Segregated Asset-Backed Note Programme of rental and equipment lease financed assets...
South Africa
UploadedDec 2019
MW Asset Rentals (RF) Ltd (the “Issuer”) is a R2.5bn Lease Receivables Backed Note Programme (the “Transaction”) that issue...
South Africa
UploadedNov 2019
GCR modelled the Transaction’s cash flows according to its final capital structure and priorities of payments, applying its Criteria for Rati...
South Africa
UploadedNov 2019
The Transaction has two Subordinated Loans outstanding with an aggregate value of R145,645,00. These are unrated and held by Merchant West (Pty) Lt...
South Africa
UploadedOct 2019
Transaction Capital Limited is an unregulated non-operating holding company (‘NOHC’), actively investing in credit-oriented alternative...
South Africa
UploadedOct 2019
Grindrod considers relationships with its customers as the mainstay of the business, hence providing a wide range of personalised products and serv...
South Africa
UploadedOct 2019
The ratings on Lewis Group Limited (“Lewis”, “the group”) reflects its strong financial profile and its well-entrenched loc...
South Africa
UploadedOct 2019
Curro’s ratings are underpinned by the supportive operating environment for private education and relative earnings stability. Against the ba...
South Africa
UploadedOct 2019
SANRAL’s credit rating is premised upon the substantial ongoing financial support provided by the Government of South Africa (“GoSA&rdq...
South Africa
UploadedOct 2019
Structured bond ratings provide an estimate of the expected loss in the event of an Issuer default and are a function of the estimated probability...