Global Credit Ratings Limited (GCR) has affirmed the national scale long-term and short-term issuer ratings of BBB+ (NG) and A2 (NG), respectively, for the foremost real estate company, Lekki Gardens Estate Limited. GCR also upheld the national scale long-term issue rating of A (NG)(EL) accorded to Lekki Gardens Estate Limited's N3.5bn Senior Secured Fixed Rate Bond Issue. It described the outlook on the ratings as stable. GCR stated that the rating affirmation and stable outlook reflect the company's strong competitive position which will continue to underpin sustainable earnings and cashflow, while maintaining a modest funding profile. This would help mitigate the increased risks within the Nigerian operating environment.