The Global Credit Rating (GCR) agency has affirmed Bank Windhoek’s Namibian long- and short-term national scale issuer ratings at AA(NA) and A1+(NA), respectively.
At the same time, the South African long-term issuer rating was affirmed at A(ZA). This affirmation means that the rating outlook remains stable.
Bank Windhoek said the international scale ratings of AA for the long term indicate that the obligor, also known as a debtor, has very strong creditworthiness.
“The A1+ short-term rating reflects the highest likelihood of timely payment of short-term obligations.”
According to the bank, the issuer credit ratings are assigned to legal and legislative entities to assess their relative ability to meet long- and short-term contractual financial obligations as they fall due.
Bank Windhoek’s Chief Treasurer, Claire Hobbs, said as one of the biggest banks in Namibia the Bank is proud of this achievement.
She added that, as a proud Namibian bank, the consistent rating results are due to the Bank’s strong relationships with its customers, vendors, and employees—relationships built on trust and respect.
The review further noted that GCR views Bank Windhoek as the core operating entity and flagship brand of the Capricorn Group. GCR emphasized that the rating affirmation reflects the Group’s solid and entrenched position as a leading financial services provider in Namibia, with good asset quality.
Established in 1996, GCR is the leading rating agency in Africa, with an extensive rating team across the continent, supported by local offices in Mauritius, South Africa, Nigeria, Kenya, and Senegal.
