GCR Ratings Places CardinalStone Partners Limited's Credit Ratings on Review Extension

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Friday, June 04, 2021 / 10:23 AM / by GCR Ratings / Header Image Credit:  CardinalStone

 

GCR Ratings ("GCR") has placed CardinalStone Partners Limited's national scale long and short-term issuer ratings of BBB-(NG) and A3(NG) respectively on 'Review Extension'. The ratings process is ongoing and GCR expects to publicly release the updated rating results by 30 June 2021.


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

Ratings History


CardinalStone Partners Limited

Rating class

Review

Rating scale

Rating

Outlook/Watch

Date

Long Term Issuer

Initial/Last

National

BBB-(NG)

Stable Outlook

June 2020

Short Term Issuer

Initial/Last

National

A3(NG)

 

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 ratings were based solely on the merits of the rated entity, security or financial instrument being rated; and c.) such ratings were an independent evaluation of the risks and merits of the rated entity, security or financial instrument.


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


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


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Related News on CardinalStone

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  3. CardinalStone Asset Management Launches Its Premier Mutual Fund
  4. CardinalStone Financing SPV Plc Up to N5bn Series I Bond Issuance Now Open
  5. FMDQ Admits Mixta Real Estate Plc and CardinalStone Partners Limited Commercial Papers
  6. CardinalStone's Debut Commercial Paper Issuance Records 148% Subscription
  7. CardinalStone Partners Limited Offering 7.0% Yield On Its 270-Day Commercial Paper


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