Monday August 15 2016
News Source: Global Exchanges
Focus: Credit Rating
Type: General
Country: Botswana
Link: http://www.bse.co.bw/docs/PRESS_RELEASE_LATEST_CSDB_THOMAS_MURRAY_RATING.pdf
The Central Securities Depository of Botswana (CSDB) has achieved 100% dematerialisation and as a result has been given a rating of BBB with a positive impact by Thomas Murray Data Services. Furthermore, the CSDB has been rated A+ with a positive risk impact with respect to “Asset Safety Risk”. According to Thomas Murray, the category of “Asset Safety Risk” is defined as `the risk that assets held in custody at the CSDB may be lost or misappropriated, either due to a default or an omission, misuse, or breakdown of controls (legal, operational or others)`. In the last assessment by Thomas Murray on 12th May 2016, the dematerialization status was 90.5%.
On the 1st August 2016, Thomas Murray released the following statement, “The dematerialization of shares and other securities will eliminate the risks associated with physical certificates such as mutilation, theft and loss, duplication of shares, signature mismatches and transfer problems”.
The Central Securities Depository of Botswana (CSDB) is a 100% subsidiary of Botswana Stock Exchange (BSE). The company was incorporated in 2002 and started its operations in 2008. Its mandate is to facilitate the clearing and settlement of securities listed and traded on the BSE.
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