Business
Wema Bank gets GCR BBB rating
The Global Credit Rating agency, GCR, has recently wrapped up its first rating review of Wema Bank Plc.
The Bank has received a Long Term National rating of “BBB-“with a stable outlook and a Short term rating of A3. This rating is similar to the previous ratings issued by Agusto & Co and Fitch Ratings.
ALSO SEE: Wema Bank’s 2015 Profit slides 1.6%
This is on the back of sustained financial performance after a successful turnaround of the Bank.
This investment grade rating will be the basis to continue raising debt from the public, building on the success of its Commercial Paper, issued in the second half of 2015.
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