GCR Ratings Places CardinalStone’s Credit Ratings On “Review Extension”

CardinalStone GCR Ratings

GCR Ratings (GCR) has placed CardinalStone Partners Limited’s national scale long and short-term issuer ratings of BBB-(NG) and A3(NG) respectively on ‘Review Extension’. The rating process is ongoing and GCR expects to publicly release the updated rating results by 30 June 2021.

The ratings assigned in the last review are still in effect and remain unchanged until the review process is completed.

CardinalStone Partners Limited – Rating History

Rating class Review Rating scale Rating Outlook/Watch Date
Long Term Issuer Initial/Last National BBB-(NG) Stable Outlook June 2020
Short Term Issuer Initial/Last National A3(NG)


GCR affirms that

  1. no part of the rating process was influenced by any other business activities of the credit rating agency;
  2. the ratings were based solely on the merits of the rated entity, security or financial instrument being rated; and
  3. such ratings were an independent evaluation of the risks and merits of the rated entity, security or financial instrument.

CardinalStone GCR Ratings

The credit ratings have been disclosed to the rated entity. The ratings above were solicited by, or on behalf of, the rated entity, and therefore, GCR has been compensated for the provision of the ratings.

The rated entity participated in the rating process via teleconferences and other written correspondence.