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Economy | Reviews & Outlooks

GCR Withdraws Transcorp Hotels Plc’s N10bn Series 1 Senior Unsecured Bond Rating

Jan 13, 2023   •   by   •   Source: GCR Ratings   •   eye-icon 258 views

GCR Ratings (“GCR”) has withdrawn the national scale long-term Issue rating of BBB+(NG) accorded to Transcorp Hotels Plc’s N10bn Series 1 Senior Unsecured Bond following its full redemption.

Rated Entity / Issue

Rating class

Rating scale

Rating

Outlook / Watch

N10bn Series 1 Senior Unsecured Bond

Long Term Issue

National

WD(NG)



Ratings History

Transcorp Hotels Plc’s N10bn Series 1 Senior Unsecured Bond

Rating class

Review

Rating scale

Rating

Outlook

Date

Long term issue

Initial

National

A-(NG)

Stable

August 2015

Long term issue

Last

National

BBB+(NG)

Stable

December 2021

 

Salient Points of Accorded Rating

GCR affirms that a.) no part of the rating process was influenced by any other business activities of the credit rating agency; b.) the ratings process was based solely on the merits of the rated entity, security or financial instrument being rated; and c.) the ratings process was an independent evaluation of the risks and merits of the rated entity, security or financial instrument.

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