International rating agency Global Credit Rating Co (GCR) has reaffirmed Credit Guarantee Insurance Corporation's (CGIC) claims paying ability rating of AA (double A), the company announced on Tuesday.
The rating signifies a very high claims paying ability, with strong protection factors. Risk is modest, but may vary slightly over time due to economic and/or underwriting conditions.
"Credit Guarantee is a credit risk insurer, covering domestic and export credit risks," explained Credit Guarantee CEO Mike Truter. "We were established specifically to protect exporters against the all too common risk of non-payment and over the past 48 years, have built up an information gathering network of enviable proportions with the largest database of company information on the African continent."
