GCR Ratings (GCR) has placed TAK Logistics Limitedâs long-term and short-term national scale Issuer ratings of BBB(NG)Â / A3(NG)Â respectively on âReview Extensionâ.
Concurrently, the national scale long-term Issue rating of BBB+(NG)Â accorded to TAK Agro Infrastructure Plcâs N15bn Series 1 Fixed Rate Bond has also been placed on âReview Extensionâ.
Ratings History –Â TAK Logistics Limited
|Long Term Issuer||Initial||National||BBB(NG)||Stable Outlook||July 2019|
|Short Term Issuer||Initial||A3(NG)|
|N15bn Series1 Fixed Rate Bond||Initial||National||BBB+(NG)||Stable Outlook||December 2019|
|Long Term Issuer||Last||National||BBB(NG)||Stable Outlook||December 2020|
|Short Term Issuer||Last||A3(NG)|
|N15bn Series1 Fixed Rate Bond||Last||BBB+(NG)|
SALIENT POINTS OF ACCORDED RATING
GCR affirms that a.) no part of the ratings process was influenced by any other business activities of the credit rating agency; b.) the rating was based solely on the merits of the rated entity, security or financial instrument being rated; and c.) such rating was an independent evaluation of the risks and merits of the rated entity, security or financial instrument.
The credit rating has been disclosed to the rated entity. The rating above was solicited by, or on behalf of, the rated entity, and therefore, GCR has been compensated for the provision of the rating.
The rated entity participated in the rating process via teleconferences and other written correspondence.