GIRAFE Rating Reports
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| Institution | Country | Area | Language | Grade | Date | Rating |
|---|---|---|---|---|---|---|
| Nor Horizon | Armenia | ECA | EN | C+ | 05-2008 |  |
| Azerdemiryolbank | Azerbaijan | ECA | EN | B+ | 05-2009 | |
| AzeriStar Microfinance | Azerbaijan | ECA | EN | B- | 04-2009 | |
| Renaca | Benin | AFRICA | FR | C- | 03-2008 | |
| FUBODE | Bolivia | LATAM | ES | B- | 07-2009 |  |
| FADES | Bolivia | LATAM | ES | B- | 05-2008 | |
| IMPRO | Bolivia | LATAM | ES | B- | 06-2008 | |
| FONDECO | Bolivia | LATAM | ES | B+ | 07-2009 | |
| CRECER | Bolivia | LATAM | ES | A- | 11-2008 | |
| SFR Sartawi | Bolivia | LATAM | ES | C | 08-2007 | |
| Sartawi | Bolivia | LATAM | ES | C+ | 08-2008 | |
| Ecofuturo | Bolivia | LATAM | ES | B+ | 05-2007 | |
| Diaconia FRIF | Bolivia | LATAM | ES | B | 05-2008 | |
| ANED | Bolivia | LATAM | ES | C | 03-2006 | |
| Amigo S.A. | Bolivia | LATAM | ES | C- | 04-2006 | |
| Credito Amigo | Bolivia | LATAM | ES | B- | 12-2007 | |
| MI-BOSPO | Bosnia - Herzegovina | ECA | EN | A- | 02-2009 | |
| Mikrofin | Bosnia - Herzegovina | ECA | EN | A | 08-2006 | |
| EKI | Bosnia - Herzegovina | ECA | EN | A- | 02-2009 | |
| Sinergija Plus | Bosnia - Herzegovina | ECA | EN | B+ | 03-2008 | |
| Zene Za Zene | Bosnia - Herzegovina | ECA | EN | B- | 01-2008 | |
| LOK | Bosnia - Herzegovina | ECA | EN | A- | 07-2008 | |
| Sunrise | Bosnia - Herzegovina | ECA | EN | A- | 05-2007 | |
| Blusol | Brazil | LATAM | PG | B | 05-2007 | |
| CEADe | Brazil | LATAM | ES | D | 03-2006 | |
| Cresol | Brazil | LATAM | ES | B | 07-2007 | |
| CEAPE PI | Brazil | LATAM | ES | C+ | 06-2006 | |
| UCEC/Z | Burkina Faso | AFRICA | FR | D+ | 08-2007 | |
| PRODIA-AC | Burkina Faso | AFRICA | FR | C- | 08-2009 | |
| COSPEC | Burundi | AFRICA | FR | D | 11-2007 | |
| Thaneakea Phum (TPC) | Cambodia | ASIA | EN | B+ | 08-2007 | |
| CCSF | Cambodia | ASIA | EN | C++ | 03-2010 | |
| CREDIT | Cambodia | ASIA | EN | B+ | 09-2009 | |
| SOFINA | Cameroon | AFRICA | FR | C- | 02-2008 | |
| ACEP Cameroun | Cameroon | AFRICA | FR | B | 04-2008 | |
| SAILD | Cameroon | AFRICA | FR | D | 02-2007 | |
| Finadev | Chad | AFRICA | FR | C- | 03-2010 | |
| UCEC Pala | Chad | AFRICA | FR | D | 10-2006 | |
| Credicoop | Chile | LATAM | ES | B- | 01-2007 | |
| Banco de Desarollo | Chile | LATAM | ES | A | 10-2006 | |
| Interactuar | Colombia | LATAM | ES | B++ | 11-2008 | |
| Fundacion Amanecer | Colombia | LATAM | ES | B- | 03-2010 | |
| MEDA | Colombia | LATAM | ES | C++ | 07-2009 | |
| ECLOF RD | Dominica | LATAM | ES | C | 10-2006 | |
| ACJ - CESOL | Ecuador | LATAM | ES | C- | 11-2006 | |
| FUNDAMIC | Ecuador | LATAM | ES | C | 11-2006 | |
| Fundación ESPOIR | Ecuador | LATAM | ES | B+ | 01-2008 | |
| Al Tadamun | Egypt | MENA | EN | B+ | 11-2007 | |
| DBACD | Egypt | MENA | EN | A- | 03-2010 | |
| Alexandria Business Association (ABA) | Egypt | MENA | EN | B+ | 06-2007 | |
| Lead Foundation | Egypt | MENA | EN | B | 08-2007 | |
| Metemamen MFI | Ethiopia | AFRICA | EN | D | 04-2008 | |
| Buusaa Gonofaa | Ethiopia | AFRICA | EN | C+ | 07-2007 | |
| PEACE | Ethiopia | AFRICA | EN | B- | 09-2007 | |
| Wasasa MFI S.C. | Ethiopia | AFRICA | EN | C+ | 04-2008 | |
| SFPI | Ethiopia | AFRICA | EN | C | 08-2007 | |
| Gambia Women’s Finance Association (GAWFA) | Gambia | AFRICA | EN | C- | 10-2007 | |
| MFO Alliance Group | Georgia | ECA | EN | C- | 04-2009 | |
| Constanta Foundation | Georgia | ECA | EN | B+ | 12-2006 | |
| Crystal | Georgia | ECA | EN | B- | 05-2010 | |
| Sinapi Aba Trust | Ghana | AFRICA | EN | B | 07-2007 | |
| CRAN | Ghana | AFRICA | EN | C+ | 03-2008 | |
| URB | Ghana | AFRICA | FR | D+ | 10-2007 | |
| Union Rural Bank | Ghana | AFRICA | EN | D | 11-2009 | |
| APED | Ghana | AFRICA | EN | C+ | 06-2007 | |
| CDRO (REFICOM) | Guatemala | LATAM | ES | B- | 01-2007 | |
| ASDIR | Guatemala | LATAM | ES | C++ | 09-2009 | |
| Fundacion Crysol | Guatemala | LATAM | ES | C++ | 06-2009 | |
| FIACG | Guatemala | LATAM | ES | C+ | 11-2009 | |
| FAPE | Guatemala | LATAM | ES | C- | 08-2007 | |
| Yétémali | Guinea | AFRICA | FR | N | 05-2009 | |
| Crédit Rural de Guinée | Guinea | AFRICA | FR | B- | 09-2006 | |
| Komida | Indonesia | ASIA | EN | C+ | 02-2010 | |
| Microfund for Women | Jordan | MENA | EN | A- | 07-2007 | |
| Tamweelcom | Jordan | MENA | EN | A | 05-2009 | |
| AMC | Jordan | MENA | EN | B+ | 05-2007 | |
| SMEP | Kenya | AFRICA | EN | C- | 04-2008 | |
| PAWDEP | Kenya | AFRICA | EN | D | 07-2008 | |
| Yehu | Kenya | AFRICA | EN | D | 08-2007 | |
| AAR Credit Services | Kenya | AFRICA | EN | C- | 10-2008 | |
| KECLOF | Kenya | AFRICA | EN | C- | 11-2007 | |
| Mol Bulak | Kyrgyzstan | ECA | EN | B- | 02-2010 | |
| Al Majmoua | Lebanon | MENA | EN | B+ | 01-2010 | |
| Vola Mahasoa | Madagascar | AFRICA | FR | C- | 04-2008 | |
| CUMO | Malawi | AFRICA | EN | D | 08-2009 | |
| Miselini | Mali | AFRICA | FR | B- | 08-2006 | |
| Nyeta Musow | Mali | AFRICA | FR | C+ | 02-2006 | |
| PASECA/CAMIDE | Mali | AFRICA | FR | C | 03-2007 | |
| Kondo Jigima | Mali | AFRICA | FR | D | 11-2006 | |
| CVECA-ON | Mali | AFRICA | FR | D | 11-2006 | |
| RMCR | Mali | AFRICA | FR | C- | 12-2009 | |
| Soro Yiriwaso | Mali | AFRICA | FR | C+ | 05-2006 | |
| UNICREICH | Mexico | LATAM | ES | B | 10-2007 | |
| MasKapital | Mexico | LATAM | ES | C++ | 11-2009 | |
| ASP Financiera | Mexico | LATAM | ES | C+ | 07-2008 | |
| Forjadores de Negocios | Mexico | LATAM | ES | C+ | 06-2008 | |
| Solucion ASEA | Mexico | LATAM | ES | C | 02-2008 | |
| Te Creemos | Mexico | LATAM | ES | C++ | 06-2009 | |
| CrediComun | Mexico | LATAM | ES | C+ | 11-2009 | |
| Semisol | Mexico | LATAM | ES | B | 03-2010 | |
| Conserva | Mexico | LATAM | ES | C | 02-2006 | |
| MicroInvest | Moldova | ECA | EN | B++ | 08-2008 | |
| Khan Bank | Mongolia | ASIA | EN | A- | 08-2006 | |
| Vision Fund Mongolia | Mongolia | ASIA | EN | C++ | 09-2009 | |
| XacBank | Mongolia | ASIA | EN | A | 04-2006 | |
| Al Amana | Morocco | MENA | FR | B+ | 04-2010 | |
| Al Karama | Morocco | MENA | FR | C+ | 07-2007 | |
| Socremo | Mozambique | AFRICA | EN | C++ | 04-2008 | |
| FUNDENUSE | Nicaragua | LATAM | ES | B- | 09-2009 | |
| Cooperativa 20 de Abril | Nicaragua | LATAM | ES | C++ | 01-2008 | |
| FODEM | Nicaragua | LATAM | ES | B- | 09-2006 | |
| MECREF | Niger | AFRICA | FR | C+ | 03-2007 | |
| Yarda Tarka Maggia | Niger | AFRICA | FR | C- | 08-2009 | |
| MCPEC | Niger | AFRICA | FR | D | 04-2007 | |
| Yarda Madaoua | Niger | AFRICA | FR | D | 09-2008 | |
| Albarka SA | Niger | AFRICA | FR | D | 02-2008 | |
| Yarda Zinder | Niger | AFRICA | FR | D | 08-2009 | |
| ASUSU CIIGABA | Niger | AFRICA | FR | C | 04-2007 | |
| LAPO | Nigeria | AFRICA | EN | C+ | 12-2009 | |
| UNRWA MD | Palestinian territories | MENA | EN | C++ | 08-2009 | |
| Fundación Paraguaya | Paraguay | LATAM | ES | B+ | 10-2009 | |
| CAC los Andes Cotarusi Aymaraes | Peru | LATAM | ES | C+ | 05-2009 | |
| Fondesurco | Peru | LATAM | ES | B++ | 05-2010 | |
| CAC Sta. Mª Magdalena | Peru | LATAM | ES | B- | 12-2006 | |
| Cooperativa San Martín de Porres Ltda. | Peru | LATAM | ES | B- | 10-2006 | |
| ARARIWA | Peru | LATAM | ES | B | 03-2008 | |
| FINCA | Peru | LATAM | ES | B | 10-2008 | |
| Movimiento Manuela Ramos | Peru | LATAM | ES | B | 04-2010 | |
| PRISMA | Peru | LATAM | ES | B | 01-2009 | |
| ADRA | Peru | LATAM | ES | B- | 10-2008 | |
| CAC Tocache | Peru | LATAM | ES | C+ | 09-2006 | |
| Prosperidad | Peru | LATAM | ES | C | 06-2008 | |
| EDPYME Alternativa | Peru | LATAM | ES | B++ | 08-2009 | |
| ECLOF-Philippines | Philippines | ASIA | EN | D | 04-2006 | |
| Paglaum Multi-Purpose Cooperative | Philippines | ASIA | EN | C | 07-2009 | |
| HSPFI | Philippines | ASIA | EN | C- | 12-2009 | |
| CEVI | Philippines | ASIA | EN | C+ | 08-2009 | |
| Life Bank Foundation | Philippines | ASIA | EN | B+ | 07-2009 | |
| SEDP | Philippines | ASIA | EN | C++ | 03-2010 | |
| Narodnyi Kredit | Russia | ECA | EN | C- | 02-2008 | |
| FFECCC | Russia | ECA | EN | B | 07-2006 | |
| Doveriye | Russia | ECA | EN | B- | 11-2007 | |
| Coopedu | Rwanda | AFRICA | FR | C | 04-2008 | |
| CAF Isonga | Rwanda | AFRICA | FR | D | 03-2008 | |
| Duterimbere SA | Rwanda | AFRICA | FR | C- | 05-2008 | |
| Amasezerano Community Banking | Rwanda | AFRICA | EN | N | 11-2007 | |
| ACEP | Senegal | AFRICA | FR | B+ | 07-2006 | |
| Caurie | Senegal | AFRICA | FR | B- | 07-2007 | |
| MEC AFER NORD | Senegal | AFRICA | FR | D | 03-2006 | |
| MEC DELTA | Senegal | AFRICA | FR | D | 05-2008 | |
| CORAD | Senegal | AFRICA | FR | D- | 09-2007 | |
| AgroInvest | Serbia and Montenegro | ECA | EN | A- | 06-2008 | |
| Indlu Finance | South Africa | AFRICA | EN | D | 04-2009 | |
| Marang Financial Services | South Africa | AFRICA | EN | C | 03-2008 | |
| Bank Eskhata | Tajikistan | ASIA | EN | A- | 03-2008 | |
| UMECTO | Togo | AFRICA | FR | D | 09-2007 | |
| enda inter-arabe | Tunisia | MENA | FR | B+ | 06-2006 | |
| Share an Opportunity MFI (U) Ltd. | Uganda | AFRICA | EN | D- | 09-2007 | |
| KOLPING/KEDEP | Uganda | AFRICA | EN | D- | 03-2007 | |
| Mushanga SACCO | Uganda | AFRICA | FR | C- | 01-2007 | |
| Agaru SACCO | Uganda | AFRICA | EN | D | 03-2007 | |
| KYAPS | Uganda | AFRICA | EN | C- | 01-2007 | |
| Tulihamu Budongo SACCO | Uganda | AFRICA | EN | D- | 10-2007 | |
| KALCADA | Uganda | AFRICA | EN | E | 10-2006 | |
| UGAFODE | Uganda | AFRICA | EN | C- | 09-2006 | |
| Hofokam | Uganda | AFRICA | EN | C | 05-2007 | |
| Mutara Sacco | Uganda | AFRICA | EN | D+ | 02-2007 | |
| Naddangira | Uganda | AFRICA | EN | D | 11-2006 | |
| Binh Minh Microfinance Programs | Vietnam | ASIA | EN | C+ | 04-2009 | |
| TYM Fund | Vietnam | ASIA | EN | B++ | 05-2010 | |
| CEP | Vietnam | ASIA | EN | B+ | 08-2007 | |
| National Microfinance Foundation | Yemen | MENA | EN | C+ | 10-2009 | |
| CETZAM | Zambia | AFRICA | EN | D | 02-2008 | |