The Global Credit Ratings (GCR) agency has affirmed Bank Windhoek’s creditworthiness.
The GCR is Africa’s leading rating agency.
It issued Bank Windhoek with an AA(NA) and A1+(NA) rating. An AA(NA) rating means the bank is considered to be a high-quality issuer of debt, with a low risk of default. While an A1+(NA) rating means there is a very high likelihood that the bank will meet its short-term financial obligations in a timely manner.
In a statement issued on Tuesday, Bank Windhoek chief treasurer Claire Hobbs says the consistent rating results are due to the bank’s strong relationships with its customers, vendors and employees.
“The reviews added that GCR views Bank Windhoek as the Capricorn Group’s core operating entity and flagship brand.
The rating affirmation balances the group’s solid and entrenched position as a leading financial services provider in Namibia with good asset quality,” says Hobbs.
GCR is the African arm of the New York Stock Exchange.
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