GCR Suspends Zedcrest Capital Limited’s Rating
GCR Ratings (GCR) has suspended the national scale long-term and short-term Issuer ratings of BBB-(NG) and A3 (NG) respectively accorded to Zedcrest Capital Limited, without review.
The company said in its latest rating note this is because it has not received the full set of information required and therefore, a review of the ratings cannot be finalised as a result of GCR’s information sufficiency standard requirement.
The rating firm explained that it will only reinstate the ratings and analytical coverage for Zedcrest should all required information be received and will otherwise withdraw the ratings within the next three (3) months.
The ratings were last reviewed in November 2022, according to the firm. Naira Devaluation Deepens Economic Crisis in Nigeria
“A credit rating suspension does not imply that the entity is not servicing its debt obligations or that its financial position has deteriorated, but rather that it has failed to provide important information about its credit profile”, GCR Rating said.
