GCR Ratings (“GCR”) has withdrawn the national scale long-term Issue rating of BBB+(NG) accorded to Transcorp Hotels Plc’s N10bn Series 1 Senior Unsecured Bond following its full redemption.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