Isaac Babatunde

Isaac Babatunde is an Executive Director in charge of Corporate and Sub-Sovereign Ratings at Agusto & Co. He has over twenty years’ experience in ratings (corporates, banks and non-bank FIs & Sub-nationals), research, training, audit, accountancy and taxation. Isaac heads Agusto & Co’s initiatives leading to the rating of 21 out of the 22 Nigerian sub-national bonds issuance valued at $3.7 billion as at 2015. He has made presentations to the Ghana Bond Development Committee, The African Securities Exchanges Association (ASEA) at JSE and Kenya Conference on Sub-national borrowings, amongst others.

He joined Agusto & Co. in 1999 and has worked in various departments within the Firm. Isaac facilitates in training organised by Agusto Consulting (a subsidiary of Agusto & Co). Prior to joining Agusto & Co, he worked with one of the largest public accounting firms for over six years. Isaac has a B.Sc. in Economics from Obafemi Awolowo University, Ile-Ife. He is an Associate of the Chartered Institute of Taxation of Nigeria and a Fellow of the Institute of Chartered Accountants of Nigeria. Isaac is an alumnus of the Lagos Business School having completed the Senior Management Programme in 2006. He has attended various training courses both in Nigeria and overseas

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Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
LECON Finance Company Limited Aa-/A1+ Jun 30 , 2027 Stable Nigeria

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
MTN Nigeria Communications PLC Aaa/A1+ Jun 30 , 2027 Stable Nigeria
Layer3 Limited Bbb/A2 Jun 30 , 2027 Stable Nigeria
BUA Cement PLC Aa-/A1+ Jun 30 , 2027 Stable Nigeria
Cardinal Torch Company Limited Bbb-/A3 Jun 30 , 2027 Stable Nigeria
CIG Motors Company Limited Bbb/A2 Jun 30 , 2027 Stable Nigeria
Arco WorldWide Services Limited A/A1 Sep 30 , 2026 Stable Nigeria
Dimension Data Limited Bbb+/A2 Sep 30 , 2026 Stable Nigeria
Arco WorldWide Services Limited A/A1 Sep 30 , 2026 Stable Nigeria
Cutix PLC Bbb+ Oct 31 , 2026 Stable Nigeria

Corporate Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
MTN Nigeria Communications PLC’s ₦110 billion Series 1 Bond Aaa Apr 30 , 2027 Stable Nigeria
Craneburg EKSG Motorway Company PLC’s ₦32.5 Billion Bond Aaa Apr 23 , 2027 Stable Nigeria
Dimension Data SPV Funding Plc’s ₦5 billion Bond Bbb+ Apr 18 , 2027 Stable Nigeria
TSL SPV Plc’s ₦12 Billion Infrastructure Bond Aaa Oct 06 , 2026 Stable Nigeria
FMN Financing 1 PLC’s ₦4.89 Billion and ₦25 Billion Bonds A- Dec 15 , 2026 Stable Nigeria
GEL Utility Funding SPV Plc’s ₦13 Billion Bond Aaa Aug 31 , 2026 Stable Nigeria
MTN Nigeria Communications PLC's ₦10,085,600,000 and ₦104,914,400,000 Bonds Aa+ Sep 30 , 2026 Stable Nigeria
GPC-SPV Company PLC’s ₦20 Billion Bond Aaa Nov 23 , 2026 Stable Nigeria
Lagos State Government's ₦100 Billion Bond Aa Sep 30 , 2026 Stable Nigeria
MTN Nigeria Communications PLC's ₦89.99 Billion Bond Aa+ Sep 30 , 2026 Stable Nigeria
Lagos State Government's ₦38.7 Billion and ₦5.34 Billion Bonds Aa Sep 30 , 2026 Stable Nigeria
Lagos State Infrastructure Sukuk SPV Plc's ₦19.815 Billion Aa Sep 30 , 2026 Stable Nigeria
Lagos State Government's ₦137.3 Billion Bond Aa Sep 30 , 2026 Stable Nigeria
Lagos State Government's ₦115 Billion Bond and Hybrid Instruments Issuance Programme. Aa Sep 30 , 2026 Stable Nigeria
BUA Cement PLC’s ₦115 Billion Bond A+ Dec 31 , 2026 - Nigeria
UAC of Nigeria PLC's up to ₦75 billion Bond A- Nov 30 , 2026 Stable Nigeria
Geregu Power Plc's ₦40.085 Billion Bond A- Jul 28 , 2026 Stable Nigeria
Lagos State Government's Proposed ₦14.8 Billion Green Bond and Hybrid Instruments Issuance Programme Aa Sep 30 , 2026 Stable Nigeria
Lagos State Government's proposed ₦200 Billion Bond and Hybrid Instruments Issuance Programme Aa Sep 30 , 2026 Stable Nigeria
UAC of Nigeria PLC's ₦5.82 Billion Bond A- Aug 14 , 2026 Stable Nigeria
Dangote Industries Funding PLC’s ₦112.42 Billion Bond A+ Jul 19 , 2026 Negative Nigeria
Presco PLC’s ₦82.9 Billion Bond Aa Jan 31 , 2027 Stable Nigeria
CRS Funding SPV Limited’s ₦35 Billion Bond Bbb+ Dec 31 , 2026 Stable Nigeria
CRS Funding SPV Limited’s ₦22.8 Billion Bond Bbb+ Aug 05 , 2026 Stable Nigeria
Paras Energy Funding SPV PLC’s ₦15 Billion Bond A+ Oct 30 , 2026 Stable Nigeria
LFZC Funding SPV Plc’s ₦25 Billion Infrastructure Bond Aaa Mar 04 , 2027 Stable Nigeria
LFZC Funding SPV Plc’s ₦17.5 Billion Infrastructure Bond Aaa Mar 04 , 2027 Stable Nigeria
NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1 Aaa Dec 31 , 2033 Stable Nigeria