Agency gives Cytonn Investments stable outlook in maiden rating (Kenya)


By James Ngurinji | Business Daily, Kenya September 28, 2017

Global Credit Ratings agency (GCR) has accorded Cytonn Investments Management Public Limited Company (Plc) a maiden national scale issuer ratings of BB (KE) and B (KE) in the long and short term respectively, with a stable outlook.

The South African-based agency also accorded the investment firm a commercial paper rating of B (KE). All ratings are valid until September 30, next year.

Both long term and short term ratings reflect an issuer’s ability to meet its financial obligations, interest payments and debt redemptions.

Cytonn, founded in 2014 offers a range of residential and mixed-use properties to retail and institutional investors.

Although it has a comprehensive strategy outlining the rapid growth of assets under management, it has a plan to increase the project pipeline from Sh82.7 billion to Sh112.2 billion by third quarter 2018.

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