GCR Places Geregu Power Plc's National Scale Issuer Ratings on Review Extension

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Tuesday, November 30, 2021 / 10:56 AM / by GCR Ratings / Header Image Credit: Siemens


GCR Ratings ("GCR") has placed Geregu Power Plc's long-term and short-term national scale Issuer ratings of A(NG) and A1(NG) respectively on 'Review Extension'. The ratings process is ongoing and GCR expects to publicly release the updated ratings result on or before 17 December 2021.


The ratings assigned in the last review are still in effect and remain unchanged until the review process is completed.

Ratings History

Geregu Power Plc

Rating class

Review

Rating scale

Rating

Outlook

Date

Long Term Issuer

Initial/last

National

A(NG)

Stable

September 2020

Short Term Issuer

Initial/last

National

A1(NG)

Senior Unsecured Bonds - LT Issue

Initial/last

National

A(NG)(IR)

Stable

January 2021

 

Salient Points of Accorded Rating

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


The credit rating has been disclosed to the rated entity. The rating above was solicited by, or on behalf of, the rated entity, and therefore, GCR has been compensated for the provision of the rating.


The rated entity participated in the rating process via teleconferences and other written correspondence.


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Related News on Geregu

  1. Femi Otedola: From FO to Geregu
  2. Forte Oil Plc takes over Geregu Power Plant
  3. Forte Oil Plc: Purchase of Geregu Power Plant
  4. Facts behind the Figures - NSE applauds Forte Oil on acquisition of 414MW Geregu Power Plant


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