GCR Ratings, Bloomfield
The Pan-African and regional rating agencies — provide local-scale ratings used in domestic capital markets where international ratings would be too granular.
Mandate
GCR Ratings (now part of Moody's) and Bloomfield Investment Corporation are the most active African-focused rating agencies. Operate national and regional rating scales — e.g. 'AAA(KE)' for the strongest issuer on a Kenyan-only scale, distinct from a global AAA.
How it works
Same fundamental analysis as global agencies, but the rating distribution is calibrated within a single country or region — meaning a 'AAA(KE)' is the strongest issuer in Kenya, not the strongest in the world. Used by domestic regulators and pension rules that reference local-scale ratings.
Why it matters
Kenyan corporate bond issuance, bank Tier-2 capital, and domestic-rated structured finance all reference local-scale ratings. Pension-fund investment policies typically include floors for minimum local rating.
What to watch
Rating actions on Kenyan banks, insurers, and corporates. Annual industry rating reviews.
More from Rating agencies and private-sector infrastructure
- S&P Global Ratings, Moody's, Fitch
The 'Big Three' global credit rating agencies — they assign ratings to Kenya's sovereign debt and to major Kenyan corporate and bank issuers.
- Financial Action Task Force · FATF
The intergovernmental body that sets global standards for combating money laundering, terrorism financing, and proliferation financing — and 'grey-lists' countries that fall short.