Africa’s no.1 rating agency

Accounting for the majority of all ratings accorded on the African continent.


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.

  • Carlyle acquires significant stake in GCR

    Carlyle acquires significant stake in GCR

    Global Credit Ratings (GCR) is pleased to confirm that the Carlyle Group (Carlyle) recently acquired a 49.9% stake in the GCR group.  We are very excited at this development, as this will be a massive boost to GCR’s international credentials as well as provide access to vast financial and technical resources.

    Carlyle is the pre-eminent Global Private Equity player, managing assets in the region of US$170 billion and who’s portfolio companies’ combined would rank it amongst the 10 most profitable corporations worldwide.

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  • GCR awarded Best Fund Rating Service in Africa

    GCR awarded Best Fund Rating Service in Africa

    Global Credit Ratings (GCR) has recently been named the Best Fund Rating Service for the second consecutive year by African Global Funds (AGF) at the Africa Service Providers Awards 2017. The AGF Africa Service Provider Awards were created to honour and generate both industry and public recognition of the outstanding efforts and accomplishments of fund service providers covering Africa.

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  • GCR recognised as an eligible ECAI by SARB

    GCR recognised as an eligible ECAI by SARB

    On 21 August 2015, GCR received approval from the South African Reserve Bank (“SARB”) to be recognised as an eligible External Credit Assessment Institution (“ECAI”) in terms of regulation 51 of the Regulations relating to Banks.

  • GCR’s application for registration approved by the FSB

    Global Credit Rating Co. (Pty) Ltd is pleased to advise our clients, investors and other interested parties that our application for registration as a credit rating agency by the Financial Services Board has been approved. Please refer to the following link to the Financial Services Board website for further details please click here

  • 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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  • 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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  • 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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Latest Headlines

Global Credit Ratings (GCR) not exiting Kenya

Dear valued stakeholders Global Credit Ratings (GCR) is still operating in Kenya and is not contemplating a withdrawal. GCR is aware of a recently issued Kenya Gazette notice that may have caused some confusion regard...

21 Jan 2019 In GCR Communications, Market Alerts

Update on GCR’s Structured Finance Ratings currently ‘Under Review’

Johannesburg, 14 January 2019—Global Credit Ratings (“GCR”) published its updated Global Master Structured Finance Rating Criteria and Global Consumer Asset-Backed Securitisations (“ABS”) Ra...

14 Jan 2019 In Market Alerts

GCR assigns I&M Bank (Rwanda) PLC a National Scale Rating of A-(RW); Outlook Stable.

Johannesburg, 11 January, 2019—Global Credit Ratings has assigned to I&M Bank (Rwanda) PLC long-term and short-term national scale ratings of A-(RW) and A2(RW) respectively; with the outlook accorded as Stable....

11 Jan 2019 In Rating Notifications

GCR revises Trustco Group Holdings Limited’s rating to CCC(NA). Outlook, Evolving.

Johannesburg, 28 December 2018 – Global Credit Ratings (“GCR”) has revised the Trustco Group Holdings Limited’s (“Trustco”, “the group”) long and short-term national scale ...

28 Dec 2018 In Rating Notifications

GCR affirms Emeritus Reinsurance Zambia Limited’s rating of BBB(ZM); Rating Watch

Johannesburg, 24 December 2018—Global Credit Ratings has today affirmed Emeritus Reinsurance Zambia Limited’s (formerly Zambian Reinsurance Company Limited) national scale claims paying ability rating of BBB(...

24 Dec 2018 In Rating Notifications

GCR publishes its South African Medical Statistical Bulletin

Johannesburg, 21 December 2018 — Global Credit Ratings has today published its annual South African Medical Statistical Bulletin, covering a sample of the sector and its participants’ performance for the year...

21 Dec 2018 In GCR Communications

GCR extends ‘Under Review’ applicable to Global Equity Investments 1-14 Ltd

Johannesburg, 21 December 2018—Global Credit Ratings has extended the ‘Under Review’ status applicable to the final, public long-term international scale foreign currency credit ratings accorded to the ...

21 Dec 2018 In Rating Notifications