Rating Release
Agusto & Co. hereby upgrades Cordros Money Market Fund rating to A(f).
The rating expires on 16 April 2027
Agusto & Co. hereby upgrades the rating assigned to Cordros Money Market Fund (‘Cordros MMF’ or ‘the Fund’) to ‘A(f)’. The rating upgrade reflects the Fund’s improved low exposure to credit, interest rate and liquidity risks as well as the consistent adherence to regulatory limits despite significant growth in Assets under Management (AuM). In addition, we view positively the improved diversification in Cordros MMF’s unitholding base and support from a growing financial services group. Nonetheless, we have also taken into consideration the impact of the weakened macroeconomic environment on driving business growth.