Rating Release
Agusto & Co. assigns a ‘Bbb+(GIN)’ long term and ‘A2(GIN)’ short term ratings to Sky Capital and Financial Allied International Limited, with a stable outlook
The rating expires on 31 August 2026.
Agusto & Co. assigns “Bbb+(GIN)” (long term) and “A2(GIN)” (short term) ratings to Sky Capital and Financial Allied International Limited (“Sky Capital Group” or “the Group”), reflecting strong support of the shareholder, SIFAX Group of Companies Limited (SIFAX Group), a conglomerate with a growing franchise across African countries. The good liquidity profile and improved profitability, bolstered by the performance of the two banking subsidiaries, Skye Bank Guinea S.A. (‘SB Guinea’ or ‘SBG’) and Sky Bank Sierra Leone Limited (‘SB Sierra Leone’ or ‘SBSL’), also supported the assigned ratings. However, rising funding costs and the concentrated loan book constrained the assigned ratings. Given that SB Guinea accounts for 83.4% and 70.5% of the Group’s asset base and earnings, respectively, we have assessed the Group’s credit profile primarily using the Guinean national rating scale.