Moody’s buys 51% of GCR Ratings and flags possible BEE deal in SA
Moody’s Corporation, the holding company that owns the eponymous credit ratings agency, has agreed to buy a 51% stake in Global Credit Rating Company (GCR), a rival ratings agency that focuses on Africa.
GCR has operations in SA, Nigeria, Senegal, Kenya and Mauritius and describes itself on its website as having the largest ratings team in Africa thanks to its extensive on-the-ground presence in countries across the continent. The company traces its origins back to 1996 when it was established as the African arm of US financial services consultancy Duff & Phelps, which has since been rebranded as Kroll...
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