GCR Extends “Review Extension” On CardinalStone Partners’ Issuer Ratings

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GCR Ratings has extended the ‘Review Extension’ on CardinalStone Partners Limited’s national scale long and short-term issuer ratings of BBB-(NG) and A3(NG) respectively.

The rating process is ongoing and GCR expects to publicly release the updated rating results before the end of August 2021.

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

Ratings History – CardinalStone Partners Limited
Rating class
Review
Rating scale
Rating
Outlook/Watch
Date
Long Term IssuerInitial/LastNationalBBB-(NG)Stable OutlookJune 2020
Short Term IssuerInitial/LastNationalA3(NG)

SALIENT POINTS OF ACCORDED RATING

GCR affirms that a.) no part of the rating process was influenced by any other business activities of the credit rating agency; b.) the ratings were based solely on the merits of the rated entity, security or financial instrument being rated; and c.) such ratings were an independent evaluation of the risks and merits of the rated entity, security or financial instrument.

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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.

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