Atlas Mara company keeps rating

Atlas Mara’s Zimbabwe-based financial services portfolio company’s national scale long term and short-term issuer ratings have been kept at BB+(ZW) and B(ZW) respectively, with a stable outlook by GCR Ratings.

The affirmation of African Banking Corporation of Zimbabwe’s (BancABC Zimbabwe) rating reflects its strong capital position, improving earnings and its liquidity profile.

GCR has kept the outlook at stable on the expectation that the bank will sustain its credit profile over the rating horizon against a weak operating environment.

Atlas Mara first backed BancABC Zimbabwe in 2014 through the acquisition of its Botswana-based parent company ABC Holdings (ABCH).

See issuer details here