South African agency now withdraws Fidelity Shield Insurance ratings
Friday January 29 2021
By BRIAN NGUGI
Summary
South African ratings firm Global Credit Ratings (GCR) has now withdrawn the credit profile of Naushad Merali-associated Fidelity Shield Insurance company for failing to disclose information, weeks after suspending the insurer s ratings.
GCR said it will no longer rate the agency adding that the BBB-(KE) rating issued after a review in November 2019, indicating high credit quality and certainty of timely payments, has been withdrawn.
South African ratings firm Global Credit Ratings (GCR) has now withdrawn the credit profile of Naushad Merali-associated Fidelity Shield Insurance company for failing to disclose information, weeks after suspending the insurer s ratings.