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On Monday, GuarantCo (A1 stable) confirmed that it had received an AUD4 million capital investment from the Australian government’s (Aaa stable) Department of Foreign Affairs and Trade (DFAT). Although the contribution is small relative to GuarantCo’s existing shareholder equity, the broadening of GuarantCo’s shareholder base is credit positive and supports its expansion into Asia. GuarantCo is a supranational organization that transfers risks by providing partial financial guarantees to lenders and investors in lowincome countries financing infrastructure projects in local currency.
London - Local currency guarantee provider GuarantCo Limited has appointed Cardano Development to be its new fund manager, as it looks to grow its portfolio. Cardano Development takes over the management of GuarantCo today. GuarantCo is a public/private partnership that helps finance privately-sponsored infrastructure projects in Africa and Asia’s emerging and frontier markets, providing local currency guarantees to local and regional banks so that they can raise medium and long-term debt. GuarantCo can also provide dollar-denominated guarantees in fragile and conflict affected countries.
The Pakistan Credit Rating Agency Limited (PACRA) has assigned a long-term entity rating of 'AAA' (Triple A) and short-term rating of 'A1+' (A One Plus) to GuarantCo Limited (GuarantCo). These ratings denote the lowest expectation of credit risk emanating from an exceptionally strong capacity for timely payment of financial commitments.
Please click on the link below to view an article by Managing Director Chris Vermont in the Berne Union Year Book 2015
GuarantCo is to open new headquarters in East Africa, today, Monday 2nd November 2015, as its business in financing infrastructure development in east and southern Africa expands.