The National Bank of Rwanda (NBR) has recognised the GCR Ratings (GCR), part of Moody’s Corporation (NYSE: MCO), as an External Credit Assessment Institution.
The GCR has a 30-year track record and a portfolio of over 700 credit ratings in over 25 countries in Africa, including Mauritius, Kenya, South Africa, Senegal and Nigeria.
Marc Joffe, Chief Executive of GCR, said,
“The recognition of GCR Ratings as an ECAI by the National Bank of Rwanda, further reinforces the quality, objectivity and independence of our credit ratings. This important milestone will enable GCR Ratings to further support the development of capital markets in Rwanda, by providing market participants with independent credit opinions and financial information to enhance transparency, comparability and credit differentiation”.
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