Global Credit Ratings (GCR) has withdrawn its rating of Nakumatt Holdings as the retail chain struggles under the weight of mounting debts and failure to attract capital injection.
The South African global rating firm, in its latest market alert on June 27, said it had withdrawn the national scale rating of Nakumatt Holdings Ltd since East Africa’s largest supermarkets chain had not provided GCR with comprehensive and sufficient information to enable it to determine the appropriate rating.
