Agusto & Co. hereby upgrades the rating assigned to EDC Nigeria Money Market Fund (‘EDC MMF’ or ‘the Fund’) to A+(f).

The rating expires on 31 October 2025.

Agusto & Co. upgrades the rating assigned to EDC Nigeria Money Market Fund (“EDC MMF” or “the Fund”) to A+(f). The rating upgrade is upheld by the Fund’s continued low exposure to credit, interest rate and liquidity risks. The rating also reflects improvements in EDC MMF’s asset allocation relative to prior review periods and support from an established financial services group. However, the rating is impaired by the breaches in the regulatory weighted average maturity requirements and the frequent changes in the composition of the portfolio management team.