The South-Africa based Global Credit Ratings agency (GCR) in a maiden national scale issuer rating to Kenya’s Cytonn Investments Management PLC of BB(KE) and B(KE) for both long and short-term respectively; with a stable outlook. GCR also accorded Cytonn a commercial paper rating of B(KE).
All these ratings will be valid all through to September 30th, 2018. These rating by GCR means that Cytonn has the financial ability to meet its financial obligations, interest payments, and debt redemptions in both the short and long term.
History on Cytonn
Cytonn Investments Management Public Limited Company (Plc) was founded back in 2014 and offers retail and institutional investors a range of residential and mixed-use properties. Cytonn has made a name for itself in the Kenyan market for having a comprehensive strategy that outlines rapid growth of assets under its management.
The firm is also planning on increasing the project pipeline under its management from the current Ksh. 82.7 billion to Ksh. 112.2 billion by the Q3 of 2018.
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