Banks
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Jaiz Bank Plc | A-/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Providus Bank Limited | Bbb/A2 | Jun 30 , 2026 | Stable | Nigeria |
| Access Bank Plc | Aa/A1+ | Jun 30 , 2026 | Stable | Nigeria |
| Merchant Bank Limited | Bbb+/A2 | Jun 30 , 2026 | Stable | Nigeria |
| FSDH Merchant Bank Limited | A(NGA) B-(FCY) |
Jun 30 , 2026 | Stable | Nigeria |
| FBNQuest Merchant Bank Limited | A-/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Globus Bank Limited | A/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Keystone Bank Limited | B/B | Jun 30 , 2026 | Stable | Nigeria |
| Greenwich Merchant Bank Limited | A-/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Rand Merchant Bank Nigeria Limited | Aa/A1+ | Jun 30 , 2026 | Stable | Nigeria |
| TAJBank Limited | Bbb+/A2 | Dec 31 , 2025 | Stable | Nigeria |
| Wema Bank Limited | A-/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Optimus Bank Limited | Bbb/A2 | Jun 30 , 2026 | Stable | Nigeria |
| FCMB Limited | A- | Jun 30 , 2026 | Stable | Nigeria |
| Fidelity Bank Plc | A+ | Dec 31 , 2025 | Stable | Nigeria |
| UBA Plc | Aa- | Dec 31 , 2025 | Stable | Nigeria |
| Union Bank of Nigeria Plc | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Jaiz Bank Plc | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Nova Bank Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| FBNQuest Merchant Bank Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Coronation Merchant Bank Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Providus Bank Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Globus Bank Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| FSDH Merchant Bank Limited | A(NGA) B-(FCY) |
Jun 30 , 2025 | Stable | Nigeria |
| Lotus Bank Limited | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| Parallex Bank Limited | Bb+ | Jun 30 , 2025 | Stable | Nigeria |
| Access Bank Plc | Aa | Jun 30 , 2025 | Stable | Nigeria |
| Rand Merchant Bank Nigeria Limited | Aa | Jun 30 , 2025 | Stable | Nigeria |
| United Bank for Africa Plc | Aa- | Dec 31 , 2024 | Stable | Nigeria |
| TAJBank Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Nova Merchant Bank Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Unity Bank Plc | Bb- | Jun 30 , 2024 | Positive | Nigeria |
| Jaiz Bank Plc | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Union Bank of Nigeria Plc | A- | Jun 30 , 2024 | Stable | Nigeria |
| FBNQuest Merchant Bank Limited | A | Jun 30 , 2024 | Stable | Nigeria |
| Globus Bank Limited | A- | Jun 30 , 2024 | Stable | Nigeria |
| Lotus Bank Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| FSDH Merchant Bank Limited | A /B- | Jun 30 , 2024 | Stable | Nigeria |
| Polaris Bank Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| Fidelity Bank Plc | A | Jun 30 , 2024 | Stable | Nigeria |
| Wema Bank Plc | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Providus Bank Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Access Bank Plc | Aa | Jun 30 , 2024 | Stable | Nigeria |
| Greenwich Merchant Bank Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Rand Merchant Bank Nigeria Limited | Aa | Jun 30 , 2024 | Stable | Nigeria |
| Wema Bank Plc | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Greenwich Merchant Bank Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Union Bank of Nigeria Plc | A- | Jun 30 , 2023 | Stable | Nigeria |
| Nova Merchant Bank Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Keystone Bank Limited | B- | Jun 30 , 2023 | Stable | Nigeria |
| Parallex Bank Limited | Bb- | Jun 30 , 2023 | Stable | Nigeria |
| United Bank for Africa Plc | Aa- | Dec 31 , 2023 | Stable | Nigeria |
| Unity Bank | Bb- | Jun 30 , 2023 | Stable | Nigeria |
| Globus Bank | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| Jaiz Bank Plc | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| FSDH Merchant Bank Limited | A /B- | Jun 30 , 2023 | Stable | Nigeria |
| FBNQuest Merchant Bank Limited | A | Jun 30 , 2023 | Stable | Nigeria |
| TAJBank Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Providus Bank Limited | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| Rand Merchant Bank Nigeria Limited | Aa | Jun 30 , 2023 | Stable | Nigeria |
| Coronation Merchant Bank | A+ | Jun 30 , 2023 | Stable | Nigeria |
| Access Bank Plc | Aa | Jun 30 , 2023 | Stable | Nigeria |
| Wema Bank Plc | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Fidelity Bank | A | Dec 31 , 2022 | Stable | Nigeria |
| Keystone Bank | B- | Jun 30 , 2022 | Stable | Nigeria |
| Unity Bank Plc | Bb- | Jun 30 , 2022 | Stable | Nigeria |
| TAJBank Limited | Bbb- | Jun 30 , 2022 | Stable | Nigeria |
| Jaiz Bank Plc | Bbb | Jun 30 , 2022 | Stable | Nigeria |
| FBNQuest Merchant Bank Limited | A | Jun 30 , 2022 | Stable | Nigeria |
| Providus Bank Plc | Bbb- | Jun 30 , 2022 | Stable | Nigeria |
| Globus Bank Limited | Bbb- | Jun 30 , 2022 | Stable | Nigeria |
| Access Bank Plc | Aa- | Jun 30 , 2022 | Stable | Nigeria |
| Rand Merchant Bank Nigeria Limited | Aa- | Jun 30 , 2022 | Stable | Nigeria |
| Union Bank of Nigeria Plc | A- | Jun 30 , 2022 | Stable | Nigeria |
| Coronation Merchant Bank Limited | A+ | Jun 30 , 2022 | Stable | Nigeria |
| Nova Merchant Bank Limited | Bbb | Jun 30 , 2022 | Stable | Nigeria |
| Wema Bank Plc | Bbb- | Jun 30 , 2022 | Stable | Nigeria |
| United Bank for Africa Plc | Aa- | Jun 30 , 2022 | Stable | Nigeria |
| FSDH Merchant Bank Limited | A(NGA) B-(FCY) |
Jun 30 , 2022 | Stable | Nigeria |
| Fidelity Bank Plc | A | Dec 31 , 2021 | Stable | Nigeria |
| Jaiz Bank Plc | Bbb- | Jun 30 , 2021 | Stable | Nigeria |
| FBNQuest Merchant Bank Limited | A | Jun 30 , 2021 | Stable | Nigeria |
| Unity Bank Plc | Bb- | Jun 30 , 2021 | Stable | Nigeria |
| Keystone Bank | B- | Jun 30 , 2021 | Stable | Nigeria |
| FBN MB Funding SPV Plc’s Series 1 ₦5 billion Senior Unsecured Bond | A | Jun 30 , 2021 | Stable | Nigeria |
| Infrastructure Credit Guarantee Company Limited | Aaa | Jun 30 , 2021 | Stable | Nigeria |
| Access Bank Plc N30 billion 7-Year Fixed Rate Subordinated Unsecured Bond | A+ | Jun 30 , 2021 | Stable | Nigeria |
| Union Bank of Nigeria Series 1 and 2 Combined Issuance of N13.5 Billion Bond | A- | Jun 30 , 2021 | Negative | Nigeria |
| Access Bank Plc | Aa- | Jun 30 , 2021 | Stable | Nigeria |
| United Bank for Africa Plc | Aa- | Jun 30 , 2021 | Stable | Nigeria |
| FSDH Merchant Bank Limited | A | Jun 30 , 2021 | Stable | Nigeria |
| Rand Merchant Bank Nigeria Limited | Aa- | Jun 30 , 2021 | Stable | Nigeria |
| Wema Bank Plc | Bbb- | Jun 30 , 2021 | Negative | Nigeria |
| Providus Bank Plc | Bb | Jun 30 , 2021 | Stable | Nigeria |
| Nova Merchant Bank Limited | Bbb | Jun 30 , 2020 | Stable | Nigeria |
| Union Bank of Nigeria Plc | A- | Jun 30 , 2021 | Negative | Nigeria |
| Coronation Merchant Bank Limited | A+ | Jun 30 , 2021 | Stable | Nigeria |
| Access Bank Plc’s ₦15 billion 5-year Fixed Rate Unsecured Green Bond | Aa- | Dec 31 , 2020 | Stable | Nigeria |
| Unity Bank Plc | Bb- | Jun 30 , 2020 | Nigeria | |
| FBNQ MB Funding SPV Plc Series 1, ₦10 billion 3-year Fixed Rate Senior Unsecured Bond | A | Jun 30 , 2020 | Nigeria | |
| Union Bank of Nigeria Plc’s ₦13.5 billion Combined Series 1 and Series 2 Bond | A- | Jun 30 , 2020 | Nigeria | |
| Wema Bank plc | Bbb- | Jun 30 , 2020 | Nigeria | |
| Wema Funding SPV Plc’s ₦17.7 billion 7-year Fixed Rate Bond | Bbb | Sep 30 , 2020 | Negative | Nigeria |
| Union Bank of Nigeria Plc’s ₦30 billion, 10-year Fixed-Rate Direct bond | Bbb+ | Jun 05 , 2020 | Nigeria | |
| FBNQuest Merchant Bank Limited | A | Jun 30 , 2020 | Nigeria | |
| Infrastructure Credit Guarantee Company Limited | Aaa | Jun 30 , 2020 | Nigeria | |
| Access Bank Plc’s ₦30 billion 7-year Fixed Rate Subordinated Unsecured Notes | A+ | Jun 30 , 2020 | Nigeria | |
| United Bank for Africa Plc | Aa- | Jun 30 , 2020 | Nigeria | |
| SunTrust Bank Nigeria Limited | Bb | Jun 30 , 2020 | Nigeria | |
| FSDH Merchant Bank Limited | A | Jun 30 , 2020 | Nigeria | |
| Rand Merchant Bank Nigeria Limited | Aa- | Jun 30 , 2020 | Nigeria | |
| Coronation Merchant Bank Limited | A+ | Jun 30 , 2020 | Nigeria | |
| Access Bank Plc | Aa- | Jun 30 , 2020 | Nigeria | |
| Union Bank of Nigeria Plc | A- | Jun 30 , 2020 | Nigeria | |
| Nova Merchant Bank Limited | Bbb | Jun 30 , 2020 | Nigeria | |
| Agusto & Co. Ltd | Aa- | Oct 03 , 2018 | Nigeria | |
| Wema Bank Plc | Bbb- | Jun 30 , 2019 | Nigeria | |
| United Bank for Africa Plc | Aa- | Jun 30 , 2019 | Nigeria | |
| Union Bank of Nigeria Plc | A- | Jun 30 , 2019 | Nigeria | |
| Rand Merchant Bank Nigeria Ltd | A+ | Jun 30 , 2019 | Nigeria | |
| FSDH Merchant Bank Limited | A- | Jun 30 , 2019 | - | Nigeria |
| FBNQuest Merchant Bank Limited | A | Jun 30 , 2019 | Nigeria | |
| Coronation Merchant Bank Ltd | A+ | Jun 30 , 2019 | Nigeria | |
| Access Bank Plc | Watch List | Jun 30 , 2019 | Nigeria | |
| Zenith Bank Plc | Aa- | Sep 30 , 2018 | Nigeria |
Bank Bonds
Corporates
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Benue Investment and Property Company Limited | Bbb/A2 | Jun 30 , 2026 | Stable | Nigeria |
| Axxela Limited | Aa- | Jun 30 , 2026 | Stable | Nigeria |
| Zeenab Foods Limited | A | Jun 30 , 2026 | Stable | Nigeria |
| Nigerian Breweries PLC | A+ | Jun 30 , 2026 | Stable | Nigeria |
| Premium Cocoa Products (Ile-Oluju) Limited | Bbb | Jun 30 , 2026 | Stable | Nigeria |
| MTN Nigeria Communication PLC | Aa+ | Jun 30 , 2026 | Stable | Nigeria |
| Cutix PLC | Bbb+ | Oct 31 , 2026 | Stable | Nigeria |
| Johnvents Industries Limited | Bbb+ | Jun 30 , 2026 | Stable | Nigeria |
| Payaza Africa Limited | Bbb | Jun 30 , 2026 | Stable | Nigeria |
| NGN Gram Limited | Bbb | Jun 30 , 2026 | Stable | Nigeria |
| Food Concepts PLC | A | Jun 30 , 2026 | Stable | Nigeria |
| Odu'a Investment Company Limited | Aa- | Jun 30 , 2026 | Stable | Nigeria |
| UAC of Nigeria PLC | A- | Jun 30 , 2026 | Stable | Nigeria |
| Vitafoam Nigeria Plc | A | Mar 31 , 2026 | Stable | Nigeria |
| Lagos Free Zone Company | Bbb | Jun 30 , 2026 | Positive | Nigeria |
| Paras Energy and Natural Resources Development Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Robust International Commodities Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Dangote Industries Limited | A+ | Jun 30 , 2025 | Stable | Nigeria |
| Nigerian Breweries PLC | A+ | Jun 30 , 2025 | Stable | Nigeria |
| Flour Mills of Nigeria PLC | A- | Sep 30 , 2025 | Stable | Nigeria |
| Saro Lifecare Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Jimcol Resources Nigeria Limited | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| Coleman Technical Industries Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Dangote Sugar Refinery PLC | A+ | Jun 30 , 2025 | Negative | Nigeria |
| MTN Nigeria Communications PLC | Aa+ | Jun 30 , 2025 | Negative | Nigeria |
| Zeenab Foods Limited | A | Jun 30 , 2025 | Stable | Nigeria |
| Tempo Paper Pulp and Packaging Plc | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| Lagos Free Zone Company | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Dangote Sugar Refinery PLC | A+ | Jun 30 , 2024 | Stable | Nigeria |
| African Non-Ferrous Industries Limited | A- | Jun 30 , 2024 | Stable | Nigeria |
| Paras Energy and Natural Resources Development Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Nigerian Breweries PLC | A+ | Jun 30 , 2024 | Stable | Nigeria |
| Paras Energy and Natural Resources Development Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| North South Power Company Limited | A | Jun 30 , 2024 | Stable | Nigeria |
| African Foundries Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Food Concepts Plc | A | Jun 30 , 2024 | Stable | Nigeria |
| Industrial and Medical Gases Nigeria Plc | A+ | Jun 30 , 2024 | Stable | Nigeria |
| African Steel Mills (Nigeria) Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Odu'a Investment Company Limited | A | Jun 30 , 2024 | Stable | Nigeria |
| Lionseal Industries Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| Saro Lifecare Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Julius Berger Nigeria Plc | A- | Jun 30 , 2024 | Stable | Nigeria |
| African Steel Mills | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| GEL Utility Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Saro Agrosciences Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Lafarge Africa Plc | Aa- | Jun 30 , 2024 | Stable | Nigeria |
| UAC of Nigeria PLC | A- | Jun 30 , 2024 | Stable | Nigeria |
| Sundry Foods Limited | A- | Jun 30 , 2024 | Stable | Nigeria |
| CapitalSage Technology Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Romco Recycling Company Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| Nisa Medical Group Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| BUA Cement PLC | A+ | Jul 31 , 2024 | Stable | Nigeria |
| Johnvents Industries Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| MTN Nigeria Communications PLC | Aa+ | Jun 30 , 2024 | Stable | Nigeria |
| Wemabod Limited | A- | Jun 30 , 2024 | Stable | Nigeria |
| TotalEnergies Marketing Nigeria Plc | A- | Jun 30 , 2024 | Stable | Nigeria |
| BB Landmark Realty Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Flour Mills of Nigeria Plc | A- | Sep 30 , 2024 | Stable | Nigeria |
| GZ Industries Limited | A | Jun 30 , 2024 | Stable | Nigeria |
| Ibom Airlines Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| Coleman Technical Industries Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Lagos Free Zone Company | Bbb- | Mar 31 , 2024 | Stable | Nigeria |
| Geregu Power Plc | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Global Accelerex Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Axxela Limited | A- | Jun 30 , 2024 | Stable | Nigeria |
| Eat ‘N’ Go Limited and Eat & Go Finance SPV Plc’s ₦11.5 Billion Bond | Withdrawn | -- | -- | Nigeria |
| UAC of Nigeria Plc | A- | Jun 30 , 2023 | Stable | Nigeria |
| African Steel Mills Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Abuja Steel Mills Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| GPC Energy & Logistics Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Eat N Go Limited | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| UAC Foods Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| Lionseal Industries Limited | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| Lagos State Government | Aa- | Sep 30 , 2023 | Stable | Nigeria |
| BB Landmark Realty Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Julius Berger Nigeria Plc | A- | Jun 30 , 2023 | Stable | Nigeria |
| BUA Cement PLC | A+ | Jun 30 , 2023 | Stable | Nigeria |
| Sundry Foods Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| GEL Utility Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| Continental Transfert Technique Limited | Bbb- | Aug 31 , 2022 | Stable | Nigeria |
| Industrial and Medical Gases Nigeria Plc | A+ | Jun 30 , 2023 | Stable | Nigeria |
| African Nonferrous Industries Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| Lafarge Africa plc | Aa- | Jun 30 , 2023 | Stable | Nigeria |
| Flour Mills of Nigeria Plc | A- | Sep 30 , 2023 | Stable | Nigeria |
| Global Accelerex Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| North South Power Company Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| Food Concepts Plc | A+ | Jun 30 , 2023 | Stable | Nigeria |
| Saro Lifecare Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| African Foundries Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| Nigerian Breweries Plc | Aa- | Jun 30 , 2023 | Stable | Nigeria |
| UAC of Nigeria Plc | A- | Jun 30 , 2023 | Stable | Nigeria |
| Coleman Technical Industries Limited | Bbb- | Jun 23 , 2030 | Positive | |
| BUA Cement Plc | A+ | Jun 30 , 2023 | Stable | Nigeria |
| MTN Nigeria Communications Plc | Aa+ | Jun 22 , 2030 | Stable | |
| Sundry Foods Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| Axxela Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| Lagos Free Zone Company | Bbb- | Jun 23 , 2030 | Stable | |
| Julius Berger Nigeria Plc | A- | Jun 30 , 2023 | Stable | Nigeria |
| Continental Transfert Technique Limited | Bbb- | Aug 31 , 2022 | Stable | Nigeria |
| GEL Utility Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| Industrial and Medical Gases Plc | A+ | Jun 30 , 2023 | Stable | Nigeria |
| North South Power Company Limited | A- | Jun 30 , 2023 | Stable | Nigeria |
| African Foundries Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| Axxela Limited | A- | Jun 30 , 2022 | Stable | Nigeria |
| Kawai Technologies Limited | Bb | Jun 30 , 2022 | Neutral | Nigeria |
| Global Accelerex Limited | A- | Jun 30 , 2021 | Stable | Nigeria |
| UAC of Nigeria Plc | A- | Jun 30 , 2021 | Stable | Nigeria |
| Lafarge Africa Plc | A- | Jun 30 , 2021 | Stable | Nigeria |
| Flour Mills of Nigeria Plc | A- | Sep 30 , 2021 | Stable | Nigeria |
| Interswitch Limited | Withdrawn | -- | -- | Nigeria |
| UACN Property Development Company Plc | B- | Jun 30 , 2021 | Stable | Nigeria |
| Axxela Limited | Bbb+ | Jun 24 , 2021 | Stable | Nigeria |
| Nigerian Breweries Plc | Aa- | Jun 30 , 2021 | Stable | Nigeria |
| Mixta Real Estate Plc | Bb- | Jun 30 , 2020 | Nigeria | |
| Flour Mills of Nigeria Plc | Bbb | Sep 30 , 2020 | Stable | Nigeria |
| Interswitch Limited | Aa | Sep 30 , 2020 | Stable | Nigeria |
| Axxela Limited | Bbb+ | Jun 30 , 2020 | Nigeria | |
| UAC of Nigeria Plc | A- | Jun 30 , 2020 | Nigeria | |
| UACN Property Development Company Plc | B- | Jun 30 , 2020 | Nigeria | |
| Mixta Real Estate Plc | Bbb- | Jun 30 , 2020 | Nigeria | |
| MTN Nigeria Communications Plc | Aa+ | Jun 30 , 2020 | Nigeria | |
| UACN Property Development Company Plc | B | Jun 30 , 2019 | Nigeria | |
| Nigerian Breweries Plc | Aa | Jun 30 , 2019 | Nigeria | |
| UAC of Nigeria Plc | A- | Jun 30 , 2019 | Nigeria | |
| Eterna Plc | Bbb | Jun 30 , 2019 | Nigeria | |
| NAHCO's N2.05 Billion Bond | A- | Dec 14 , 2000 | Nigeria |
Corporate Bonds
Development Finance Institution
Finance & Leasing
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Fewchore Finance Company Limited | Bbb/A2 | Jun 30 , 2026 | Stable | Nigeria |
| Credit Direct Finance Company Limited | Bbb+ | Jun 30 , 2026 | Stable | Nigeria |
| LECON Finance Company Limited | A+ | Jun 30 , 2026 | Stable | Nigeria |
| LECON Finance Company Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| FundQuest Financial Services Limited | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| C&I Leasing Plc.’s Series II ₦10 billion Bond | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| Finceptive Limited | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| C&I Leasing Plc | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| Fast Credit Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Fewchore Finance Company Limited | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| Credit Direct Finance Company Limited | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| FundQuest Financial Services Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| C&I Leasing Plc's Series II ₦10 Billion Bond | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Fewchore Finance Company Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| C&I Leasing Plc | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| Credit Direct Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Fast Credit Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| C& I Leasing Plc’s Series I ₦10 billion 7-year 15.5% Fixed Rate Senior Secured Bond | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| C&I Leasing Plc | Bbb- | Jun 30 , 2023 | Negative | Nigeria |
| C& I Leasing Plc’s Series I ₦7 billion Fixed Rate Senior Secured Bond | A- | Jun 30 , 2023 | Stable | Nigeria |
| FundQuest Financial Services Limited | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| Fast Credit Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Citihomes Finance Company Limited | SR3 | Nov 24 , 2023 | Stable | Nigeria |
| Lukefield Finance Company Limited | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| Credit Direct Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| C&I Leasing Plc ₦10 billion 7-year Series II Bond | Bbb+ | Jun 03 , 2022 | Stable | Nigeria |
| C&I Leasing Plc ₦7 billion 5-year Series I Bond | A- | Jun 11 , 2022 | Stable | Nigeria |
| C&I Leasing Plc | Bbb- | Jun 30 , 2022 | Stable | Nigeria |
| Credit Direct Limited | review in progress | -- | -- | Nigeria |
| Citihomes Finance Company Limited | SR3 | Jul 05 , 2022 | N/A | Nigeria |
| WSTC Financial Services Limited | Bbb+ | Mar 31 , 2022 | Stable | Nigeria |
| C&I Leasing Plc’s 5-year ₦7 billion Series 1 Senior Secured Bond | A- | Jun 30 , 2021 | Stable | Nigeria |
| C & I Leasing Plc Group | Bbb | Jun 30 , 2021 | Stable | Nigeria |
| C&I Group | Bbb | Jun 30 , 2020 | Nigeria | |
| C&I Leasing Plc’s ₦600 million bond | Bbb | Jun 30 , 2020 | Nigeria | |
| C&I Leasing Plc’s ₦7 Billion Series 1 Bond | A- | Jun 30 , 2020 | Nigeria | |
| C & I Leasing Plc | Bbb | Jun 30 , 2019 | Nigeria |
Funds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Legacy Money Market Fund | Aa-(f) | Sep 25 , 2026 | N/A | Nigeria |
| Zedcrest Money Market Fun | Bbb+(f) | Aug 03 , 2026 | N/A | Nigeria |
| Coral Money Market Fund | A(f) | Aug 28 , 2026 | N/A | Nigeria |
| United Capital Money Market Fund | A+(f) | Aug 17 , 2026 | N/A | Nigeria |
| First Ally Money Market Fund | A(f) | Jun 01 , 2026 | N/A | Nigeria |
| GDL Money Market Fund | Bbb+(f) | Jun 30 , 2026 | N/A | Nigeria |
| CardinalStone Money Market Fund | A(f) | Jun 18 , 2026 | Stable | Nigeria |
| ValuAlliance Money Market Fund | A+(f) | May 26 , 2026 | N/A | Nigeria |
| RMBN Money Market Fund | A-(f) | May 13 , 2026 | N/A | Nigeria |
| Cordros Money Market Fund | A-(f) | Apr 02 , 2026 | N/A | Nigeria |
| Chapel Hill Denham Money Market Fund | A+(f) | Mar 25 , 2026 | N/A | Nigeria |
| Zenith Money Market Fund | A(f) | Mar 05 , 2026 | N/A | Nigeria |
| FSL Money Market Fund | Bbb+(f) | Feb 16 , 2026 | N/A | Nigeria |
| Stanbic IBTC Money Market Fund | Aa-(f) | Dec 30 , 2025 | N/A | Nigeria |
| Coronation Fixed Income Fund | A+(f) | Dec 30 , 2025 | N/A | Nigeria |
| Coronation Money Market Fund | A+(f) | Dec 17 , 2025 | N/A | Nigeria |
| Guaranty Trust Money Market Fund | Aa-(f) | Dec 05 , 2025 | N/A | Nigeria |
| First Trustees ARM Money Market Fund | A+(f) | Dec 17 , 2025 | N/A | Nigeria |
| Page Money Market Fund | Bbb(f) | Dec 17 , 2025 | N/A | Nigeria |
| AXA Mansard Money Market Fund | A+(f) | Dec 27 , 2025 | N/A | Nigeria |
| FBN Money Market Fund | A+(f) | Dec 22 , 2025 | N/A | Nigeria |
| Meristem Money Market Fund | A(f) | Dec 05 , 2025 | N/A | Nigeria |
| Comercio Partners Money Market Fund | Bbb+ | Dec 08 , 2025 | N/A | Nigeria |
| Anchoria Money Market Fund | Bbb+(f) | Nov 24 , 2025 | N/A | Nigeria |
| Vetiva Money Market Fund | A+(f) | Nov 12 , 2025 | N/A | Nigeria |
| EDC Nigeria Money Market Fund | A+(f) | Oct 31 , 2025 | N/A | Nigeria |
| Legacy Money Market Fund | Aa-(f) | Sep 29 , 2025 | N/A | Nigeria |
| United Capital Money Market Fund | A+(f) | Aug 19 , 2025 | N/A | Nigeria |
| Coral Money Market Fund | A(f) | Aug 08 , 2025 | N/A | Nigeria |
| Zedcrest Money Market Fund | Bbb+(f) | Aug 08 , 2025 | N/A | Nigeria |
| GDL Money Market Fund. | Bbb+(f) | Jun 26 , 2025 | N/A | Nigeria |
| First Ally Money Market Fund. | A(f) | Jun 26 , 2025 | N/A | Nigeria |
| ValuAlliance Money Market Fund | A+(f) | May 22 , 2025 | N/A | Nigeria |
| AXA Mansard Money Market Fund | A+(f) | Dec 31 , 2024 | N/A | Nigeria |
| Chapel Hill Denham Money Market Fund | A+(f) | Apr 03 , 2025 | N/A | Nigeria |
| Zenith Money Market Fund | A(f) | Mar 19 , 2025 | N/A | Nigeria |
| Cordros Money Market Fund | A-(f) | Mar 14 , 2025 | N/A | Nigeria |
| Guaranty Trust Money Market Fund | A+(f) | Dec 31 , 2024 | N/A | Nigeria |
| Meristem Money Market Fund | A(f) | Dec 03 , 2024 | N/A | Nigeria |
| First Trustees ARM Money Market Fund | Aa-(f) | Dec 31 , 2024 | N/A | Nigeria |
| Coronation Money Market Fund | A+(f) | Dec 20 , 2024 | N/A | Nigeria |
| Stanbic IBTC Money Market Fund | Aa-(f) | Dec 31 , 2024 | N/A | Nigeria |
| Page Money Market Fund | Bbb(f) | Dec 25 , 2024 | N/A | Nigeria |
| FSL Eurobond Fund | B-(f) | Nov 13 , 2024 | N/A | Nigeria |
| Anchoria Money Market Fund | Bbb-(f) | Dec 10 , 2024 | N/A | Nigeria |
| Vetiva Money Market Fund | A+(f) | Dec 04 , 2024 | N/A | Nigeria |
| EDC Nigeria Market Fund | A(f) | Oct 08 , 2024 | N/A | Nigeria |
| Legacy Money Market Fund | A+(f) | Oct 03 , 2024 | N/A | Nigeria |
| Stanbic IBTC Money Market Fund. | Aa-(f) | Dec 31 , 2023 | N/A | Nigeria |
| GDL Money Market Fund | Bbb-(f) | Jul 02 , 2024 | N/A | Nigeria |
| First Ally Money Market Fund | A(f) | Jun 25 , 2024 | N/A | Nigeria |
| Cordros Money Market Fund | Bbb+(f) | Mar 05 , 2024 | N/A | Nigeria |
| Zedcrest Money Market Fund | Bbb+(f) | Apr 24 , 2024 | Stable | Nigeria |
| ValuAlliance Money Market Fund | A+(f) | Apr 02 , 2024 | N/A | Nigeria |
| Chapel Hill Denham Money Market Fund | A+(f) | Mar 26 , 2024 | N/A | Nigeria |
| Zenith Money Market Fund | A-(f) | Mar 23 , 2024 | N/A | Nigeria |
| Coronation Fixed Income Fund | A+(f)/FV4 | Feb 19 , 2024 | N/A | Nigeria |
| Coronation Money Market Fund | A+(f) | Dec 31 , 2023 | N/A | Nigeria |
| Vetiva Money Market Fund | A+(f) | Dec 15 , 2023 | N/A | Nigeria |
| First Trustees ARM Money Market Fund | Aa-(f) | Dec 07 , 2023 | N/A | Nigeria |
| AXA Mansard Money Market Fund | A+(f) | Nov 06 , 2023 | N/A | Nigeria |
| Abacus Money Market Fund | A(f) | Dec 13 , 2023 | N/A | Nigeria |
| Meristem Money Market Fund | A(f) | Dec 20 , 2023 | N/A | Nigeria |
| Anchoria Money Market Fund | Bbb-(f) | Dec 04 , 2023 | N/A | Nigeria |
| FBN Money Market Fund | Aa-(f) | Dec 31 , 2023 | N/A | Nigeria |
| EDC Nigeria Money Market Fund | A(f) | Oct 05 , 2023 | N/A | Nigeria |
| Norrenberger Money Market Fund | Bbb+(f) | Sep 19 , 2023 | N/A | Nigeria |
| Legacy Money Market Fund | A+(f) | Sep 04 , 2023 | N/A | Nigeria |
| GDL Money Market Fund | Bbb-(f) | Jun 16 , 2023 | Stable | Nigeria |
| United Capital Money Market Fund | A(f) | Jul 14 , 2023 | N/A | Nigeria |
| Coral Money Market Fund | Bbb+(f) | Jun 23 , 2023 | N/A | Nigeria |
| First Ally Money Market Fund | A(f) | Apr 27 , 2023 | N/A | Nigeria |
| ValuAlliance Money Market Fund | A+(f) | Mar 23 , 2023 | N/A | Nigeria |
| Cordros Money Market Fund | A-(f) | Mar 08 , 2023 | N/A | Nigeria |
| Chapel Hill Denham Money Market Fund | A+(f) | Mar 16 , 2023 | N/A | Nigeria |
| Zenith Money Market Fund | A-(f) | Mar 21 , 2023 | N/A | Nigeria |
| FBN Money Market Fund | Aa-(f) | Dec 22 , 2022 | N/A | Nigeria |
| Stanbic IBTC Money Market Fund | Aa(f) | Dec 21 , 2022 | N/A | Nigeria |
| First Trustees ARM Money Market Fund | Aa(f) | Dec 16 , 2022 | N/A | Nigeria |
| Anchoria Money Market Fund | Bbb-(f) | Oct 26 , 2022 | N/A | Nigeria |
| Meristem Money Market Fund | A+(f) | Dec 13 , 2022 | N/A | Nigeria |
| Vetiva Money Market Fund | A(f) | Dec 12 , 2022 | N/A | Nigeria |
| Coronation Fixed Income Fund | A+/ FV4 |
Sep 13 , 2022 | N/A | Nigeria |
| Coronation Money Market Fund | A+(f) | Sep 13 , 2022 | N/A | Nigeria |
| EDC Nigeria Money Market Fund | A-(f) | Sep 22 , 2022 | N/A | Nigeria |
| AXA Mansard Money Market Fund | A+(f) | Aug 23 , 2022 | N/A | Nigeria |
| Legacy Money Market Fund | A+(f) | Jul 30 , 2022 | N/A | Nigeria |
| United Capital Money Market Fund | A-(f) | Jun 21 , 2022 | N/A | Nigeria |
| Legacy Debt Fund | Aa-/ FV3 |
Jun 14 , 2022 | N/A | Nigeria |
| Abacus Money Market Fund | A-(f) | May 27 , 2022 | N/A | Nigeria |
| GDL Money Market Fund | Bbb-(f) | May 10 , 2022 | N/A | Nigeria |
| Coral Money Market Fund | A(f) | Apr 15 , 2022 | N/A | Nigeria |
Guarantee Companies
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Impact Credit Guarantee Limited | Aa- | Jun 30 , 2025 | Stable | Nigeria |
Investment Managers
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Vetiva Fund Managers Limited | A(IM) | Sep 10 , 2026 | Stable | Nigeria |
| MBO Capital Management Limited | A(IM) | Aug 20 , 2026 | Stable | Nigeria |
| Africa Plus Partners Nigeria Limited | A(IM) | Aug 28 , 2026 | N/A | Nigeria |
| Quantum Zenith Asset Management | A-(IM) | Sep 04 , 2026 | Stable | Nigeria |
| CrusaderSterling Pensions Limited | AA-(PFM) | Aug 28 , 2026 | Stable | Nigeria |
| FSDH Asset Management Limited | A-(IM) | Aug 28 , 2026 | Stable | Nigeria |
| Emerging Africa Asset Management Limited | A-(IM) | Aug 14 , 2026 | Stable | Nigeria |
| CardinalStone Asset Managers Limited | A(IM) | Jun 18 , 2026 | Stable | Nigeria |
| ValuAlliance Asset Management Limited | A+(IM) | Jun 05 , 2026 | Stable | Nigeria |
| Norrenberger Asset Management Limited | BBB(IM) | Nov 12 , 2025 | Stable | Nigeria |
| Chapel Hill Denham Management Limited | AA-(IM) | Jan 02 , 2026 | Stable | Nigeria |
| Stanbic IBTC Asset Management Limited | AA(IM) | Dec 23 , 2025 | Stable | Nigeria |
| Coronation Asset Management Limited | A-(IM) | Dec 31 , 2025 | Stable | Nigeria |
| FundCo Capital Managers Limited | BBB(IM) | Dec 31 , 2025 | N/A | Nigeria |
| FBNQuest Asset Management Limited | A+(IM) | Dec 31 , 2025 | Stable | Nigeria |
| Afrinvest Asset Management Limited | A-(IM) | Dec 31 , 2025 | Stable | Nigeria |
| First Ally Asset Management Limited | A-(IM) | Dec 30 , 2025 | N/A | Nigeria |
| United Capital Asset Management Limited | A+(IM) | Dec 30 , 2025 | Stable | Nigeria |
| GDL Asset Management Limited | BBB+(IM) | Dec 30 , 2025 | Stable | Nigeria |
| FCMB Asset Management Limited | A-(IM) | Nov 24 , 2025 | Stable | Nigeria |
| Trium Limited | A-(IM) | Oct 27 , 2025 | Stable | Nigeria |
| Emerging Africa Asset Management Limited | BBB+(IM). | Aug 27 , 2025 | Stable | Nigeria |
| FSDH Asset Management Limited | BBB+(IM) | Aug 05 , 2025 | Stable | Nigeria |
| Quantum Zenith Asset Management and Investments Limited | A-(IM) | Aug 13 , 2025 | Stable | Nigeria |
| ARM Investment Managers Limited | AA(IM) | Aug 15 , 2025 | Stable | Nigeria |
| Vetiva Fund Managers Limited | A(IM) | Aug 04 , 2025 | Stable | Nigeria |
| CrusaderSterling Pensions Limited | A+(PFM) | Jun 05 , 2025 | Stable | Nigeria |
| PAC Asset Management Limited | BB+(IM) | Jun 02 , 2025 | Stable | Nigeria |
| CardinalStone Assset Management Limited | A(IM) | Apr 28 , 2025 | N/A | Nigeria |
| SCM Capital Asset Management | BBB+(IM) | Apr 29 , 2025 | N/A | Nigeria |
| ValuAlliance Asset Management Limited | A(IM) | Apr 14 , 2025 | N/A | Nigeria |
| AVA Global Asset Managers Limited | BBB(IM) | Feb 28 , 2025 | N/A | Nigeria |
| United Capital Asset Management Limited | A(IM | Dec 31 , 2024 | Stable | Nigeria |
| FCMB Asset Management Limited | A-(IM) | Dec 31 , 2024 | Stable | Nigeria |
| Chapel Hill Denham Management Limited | AA-(IM) | Jan 15 , 2025 | Stable | Nigeria |
| Wealthbridge Asset Management Limited | BBB-(IM) | Nov 28 , 2024 | N/A | Nigeria |
| Coronation Asset Management Limited | A-(IM) | Dec 27 , 2024 | N/A | Nigeria |
| Afrinvest Asset Management Limited | A-(IM) | Dec 03 , 2024 | N/A | Nigeria |
| Stanbic IBTC Asset Management Limited | AA(IM) | Dec 31 , 2024 | Stable | Nigeria |
| Growth and Development Asset Management Limited | BBB+(IM) | Dec 31 , 2024 | Stable | Nigeria |
| First Ally Asset Management Limited | A-(IM) | Dec 26 , 2024 | Stable | Nigeria |
| FBNQuest Asset Management Limited | A+(IM) | Dec 31 , 2024 | Stable | Nigeria |
| Assetium Capital Management Limited | B+(IM) | Sep 27 , 2024 | Stable | Nigeria |
| Norrenberger Investment and Capital Management Limited | BBB(IM) | Sep 06 , 2024 | Stable | Nigeria |
| Emerging Africa Asset Management Limited | BBB(IM) | Jul 12 , 2024 | Stable | Nigeria |
| Trium Limited | BBB+(IM) | Apr 13 , 2024 | Stable | Nigeria |
| ARM Investment Managers Limited | AA(IM) | Jul 26 , 2024 | Stable | Nigeria |
| AVA Global Asset Managers Limited | BBB(IM) | Mar 08 , 2024 | N/A | Nigeria |
| MBO Capital Management Limited | A-(IM) | Dec 31 , 2023 | Stable | Nigeria |
| Chapel Hill Denham Management Limited | A+(IM) | Jan 16 , 2024 | N/A | Nigeria |
| First Ally Asset Management Limited | BBB+(IM) | Dec 31 , 2023 | Stable | Nigeria |
| GDL Asset Management Limited | BBB+(IM) | Dec 31 , 2023 | Stable | Nigeria |
| United Capital Asset Management Limited | A(IM) | Dec 31 , 2023 | Stable | Nigeria |
| FCMB Asset Management Limited | A-(IM) | Dec 31 , 2023 | Stable | Nigeria |
| FBNQuest Funds Limited | A-(IM) | Dec 31 , 2023 | Stable | Nigeria |
| Coronation Asset Management Limited | A-(IM) | Dec 31 , 2023 | Stable | Nigeria |
| FBNQuest Asset Management Limited | A+(IM) | Dec 06 , 2023 | Stable | Nigeria |
| Afrinvest Asset Management Limited | A-(IM) | Nov 02 , 2023 | N/A | Nigeria |
| Alpha Morgan Capital Managers Limited | BBB(IM) | Sep 14 , 2023 | Stable | Nigeria |
| Africa Plus Partners Nigeria Limited | A-(IM) | Jul 14 , 2023 | Stable | Nigeria |
| ARM Investment Managers Limited | AA(IM) | Jul 06 , 2023 | Stable | Nigeria |
| AVA Global Asset Managers Limited | BBB-(IM) | Feb 27 , 2023 | Stable | Nigeria |
| Iroko Capital Investment Management Limited | BBB(IM) | Feb 13 , 2023 | Stable | Nigeria |
| GDL Asset Management Limited | BBB(IM) | Dec 31 , 2022 | Stable | Nigeria |
| Chapel Hill Denham Asset Management Limited | A+(IM) | Jan 24 , 2023 | Stable | Nigeria |
| Emerging Africa Asset Management Limited | BBB-(IM) | Jan 25 , 2023 | N/A | Nigeria |
| FCMB Asset Management Limited | BBB+(IM) | Jan 10 , 2023 | Stable | Nigeria |
| United Capital Asset Management Limited | A-(IM) | Jan 08 , 2023 | Stable | Nigeria |
| Stanbic IBTC Asset Management Limited | AA(IM) | Jan 09 , 2023 | Stable | Nigeria |
| MBO Capital Management Limited | BBB+(IM) | Nov 02 , 2022 | Stable | Nigeria |
| Coronation Asset Management Limited | A-(IM) | Sep 23 , 2022 | Stable | Nigeria |
| AIICO Money Market Fund | A+ (f) | Dec 31 , 2021 | N/A | Nigeria |
| Alpha Morgan Capital Managers Limited | BBB-(IM) | Aug 01 , 2022 | Stable | Nigeria |
| AIICO Capital Limited | Suspended | -- | -- | Nigeria |
| First Ally Asset Management Limited | BBB+(IM) | Jul 09 , 2022 | Stable | Nigeria |
| Africa Plus Partners Limited | A-(IM) | Jun 23 , 2022 | Stable | Nigeria |
| ARM Investment Managers Limited | AA(IM) | Jun 02 , 2022 | Stable | Nigeria |
| Zenith Money Market Fund | A-(f) | Mar 18 , 2022 | N/A | Nigeria |
| Chapel Hill Denham Money Market Fund | A+(f) | Mar 15 , 2022 | N/A | Nigeria |
| First Ally Money Market Fund | A(f) | Mar 12 , 2022 | N/A | Nigeria |
| ValuAlliance Money Market Fund | A(f) | Mar 02 , 2022 | N/A | Nigeria |
| AVA Global Asset Managers Limited | BBB-(IM) | Feb 09 , 2022 | Stable | Nigeria |
| Stanbic IBTC Money Market Fund | Aa(f) | Dec 31 , 2021 | N/A | Nigeria |
| Chapel Hill Denham Management Limited | A+(IM) | Dec 21 , 2021 | Stable | Nigeria |
| First Trustees ARM Money Market Fund | Aa(f) | Dec 31 , 2021 | Stable | Nigeria |
| Meristem Money Market Fund | A+(f) | Dec 31 , 2021 | Stable | Nigeria |
| Stanbic IBTC Asset Management | AA(IM) | Dec 16 , 2021 | Stable | Nigeria |
| FCMB Asset Management Limited | BBB+(IM) | Dec 06 , 2021 | Stable | Nigeria |
| Africa Plus Partners Limited | BBB+(IM) | Oct 24 , 2021 | Stable | Nigeria |
| GDL Asset Management Limited | BBB(IM) | Oct 31 , 2020 | Stable | Nigeria |
| United Capital Asset Management Limited | A-(IM) | Oct 27 , 2021 | N/A | Nigeria |
| Coronation Fixed Income Fund | A+(f)/FV5 | Aug 31 , 2021 | - | Nigeria |
| Coronation Money Market Fund | A(f) | Aug 10 , 2021 | N/A | Nigeria |
| Legacy Money Market Fund | A(f) | Jun 23 , 2021 | N/A | Nigeria |
| GTI Asset Management & Trust Limited | BBB-(IM) | Jun 01 , 2021 | N/A | Nigeria |
| Zenith Money Market Fund | A-(f) | Mar 31 , 2021 | N/A | Nigeria |
| United Capital Money Market Fund | A-(f) | Apr 14 , 2021 | N/A | Nigeria |
| SCM Capital Asset Management Limited | BBB-(IM) | May 06 , 2021 | Stable | Nigeria |
| AXA Mansard Money Market Fund | A(f) | Apr 28 , 2021 | N/A | Nigeria |
| Legacy Debt Fund | A+(f)/FV3 | Mar 31 , 2021 | N/A | Nigeria |
| Chapel Hill Denham Money Market Fund | A(f) | Apr 02 , 2021 | N/A | Nigeria |
| GDL Money Market Fund | Bbb(f) | Apr 03 , 2021 | N/A | Nigeria |
| ARM Investment Managers Limited | AA(IM) | Apr 28 , 2021 | Negative | Nigeria |
| FBNQuest Funds | A-(IM) | Apr 07 , 2021 | N/A | Nigeria |
| Abacus Money Market Fund | A(f) | Feb 28 , 2021 | N/A | Nigeria |
| First Ally Asset Management Limited | Bbb+(IM) | Mar 31 , 2021 | N/A | Nigeria |
| FSDH Treasury Bills Fund | A(f) | Jan 31 , 2021 | N/A | Nigeria |
| Cordros Money Market Fund | A-(f) | Feb 28 , 2021 | N/A | Nigeria |
| First Trustees ARM Money Market Fund | Aa(f) | Dec 31 , 2020 | N/A | Nigeria |
| Stanbic IBTC Money Market Fund | Aa(f) | Dec 23 , 2020 | N/A | Nigeria |
| First Ally Money Market Fund | A(f) | Dec 15 , 2020 | N/A | Nigeria |
| FBN Money Market Fund | Aa-(f) | Dec 05 , 2020 | N/A | Nigeria |
| Chapel Hill Denham Management Limited | A(IM) | Nov 07 , 2020 | N/A | Nigeria |
| Growth & Development Asset Management Limited | BBB(IM) | Aug 14 , 2020 | Stable | Nigeria |
| Africa Plus Partners | BBB+(IM) | May 31 , 2020 | Nigeria | |
| GDL Asset Management | Bbb+(f) | Dec 31 , 2019 | Nigeria | |
| ARM Investment Managers Limited | AA(IM) | Mar 31 , 2020 | Nigeria | |
| United Capital Money Market Fund | A-(f) | Feb 29 , 2020 | Nigeria | |
| EDC Nigeria Money Market Fund | A-(f) | May 31 , 2019 | Nigeria | |
| Cordros Money Market Fund | A-(f) | Jan 31 , 2020 | Nigeria | |
| Zenith Money Market Fund | A-(f) | Feb 14 , 2020 | Nigeria | |
| AXA Mansard Money Market Fund | A(f)- | Dec 31 , 2019 | Nigeria | |
| Stanbic IBTC Money Market Fund | Aa(f) | Dec 31 , 2019 | Nigeria | |
| First Ally Asset Management Limited | BBB+(IM) | Dec 31 , 2019 | Nigeria | |
| First Trustees ARM Money Market Fund | Aa(f) | Nov 30 , 2019 | Nigeria | |
| Legacy Debt Fund | A+(f) / FV3 | Dec 31 , 2019 | Nigeria | |
| FBN Money Market Fund Rating | Aa-(f) | Nov 30 , 2019 | Nigeria | |
| Chapel Hill Denham Management Limited | A(IM) | Oct 30 , 2019 | Nigeria | |
| Coronation Money Market Fund | A-(f) | Sep 30 , 2019 | Nigeria | |
| Coronation Fixed Income Fund | Aa-/FV4 | Sep 30 , 2019 | Nigeria | |
| ARM Investment Managers Limited | AA(IM) | Feb 28 , 2019 | Nigeria | |
| Meristem Money Market Fund | A+ | Jul 25 , 2019 | Nigeria | |
| GDL Asset Management | Bbb(IM) | Jun 14 , 2019 | Nigeria | |
| Chapel Hill Denham Money Market Fund | A(f) | Feb 29 , 2020 | Nigeria | |
| Abacus Money Market Fund | A+ (f) | Dec 31 , 2019 | Nigeria |
Insurance Companies
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| SUNU Assurances Nigeria Plc | A-/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Heirs General Insurance Limited | A-/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Heirs Life Assurance | A/A1 | Jun 30 , 2026 | Stable | Nigeria |
| Zenith General Insurance Company Limited | Aa-/A1+ | Jun 30 , 2026 | Stable | Nigeria |
| Rex Insurance Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Coronation Life Assurance Limited | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| Coronation Insurance Plc | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| Unitrust Insurance Company Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Stanbic IBTC Insurance Limited | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| Zenith General Insurance Company Limited | Aa- | Jun 30 , 2025 | Stable | Nigeria |
| Sanlam General Insurance Nigeria Limited | A- | Jun 30 , 2024 | Stable | Nigeria |
| Sanlam Life Insurance Nigeria Limited | Aa- | Jun 30 , 2024 | Stable | Nigeria |
| Stanbic IBTC Insurance Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| SUNU Assurances Nigeria Plc | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Anchor Insurance Company Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Zenith General Insurance Company Limited | Aa- | Jun 30 , 2024 | Stable | Nigeria |
| Unitrust Insurance Company Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| NEM Insurance Plc | A+ | Jun 30 , 2024 | Stable | Nigeria |
| Coronation Insurance Plc | Bbb+(GHA)/ Bbb(NGR) |
Jun 30 , 2023 | Stable | Nigeria |
| Unitrust Insurance Company Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| Consolidated Hallmark Insurance Plc | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Zenith General Insurance Company Limited | A+ | Jun 30 , 2023 | Stable | Nigeria |
| Coronation Insurance Plc | Bbb(NGR) Bbb(GHA) |
Jun 30 , 2022 | Stable | Nigeria |
| Consolidated Hallmark Insurance Plc | Bbb | Jun 30 , 2022 | Stable | Nigeria |
| Anchor Insurance Limited | Bbb | Jun 30 , 2022 | Stable | Nigeria |
| ZB Reinsurance Limited | Bbb(ZBW) | Jun 30 , 2022 | Stable | Zimbabwe |
| Unitrust Insurance Company Limited | Bbb+ | Jun 30 , 2022 | Stable | Nigeria |
| Linkage Assurance Plc | A- | Jun 30 , 2022 | Stable | Nigeria |
| Zenith General Insurance Company Limited | A+ | Jun 30 , 2022 | Stable | Nigeria |
| Anchor Insurance Company Limited | Bbb | Jun 30 , 2021 | Stable | Nigeria |
| Unitrust Insurance Company Limited | Bbb+ | Jun 30 , 2021 | Stable | Nigeria |
| ZB Reinsurance Limited | Bbb (ZWL) | Jun 30 , 2021 | Negative | Zimbabwe |
| Consolidated Hallmark Insurance Plc | Bbb | Jun 30 , 2021 | Stable | Nigeria |
| WAPIC Insurance Plc | Bbb | Jun 30 , 2021 | Stable | Nigeria |
| Zenith General Insurance Company Limited | A+ | Jun 30 , 2021 | Stable | Nigeria |
| Anchor Insurance Company Limited | Bbb | Jun 30 , 2020 | Nigeria | |
| Allianz Nigeria Insurance Plc | Bbb+ | Jun 30 , 2020 | Nigeria | |
| Zenith General Insurance Company Limited | A+ | Jun 30 , 2020 | Nigeria | |
| Saham Unitrust Insurance Nigeria Limited | Bbb+ | Jun 30 , 2020 | Nigeria | |
| Consolidated Hallmark Insurance Plc | Bbb | Jun 30 , 2020 | Nigeria | |
| Saham Unitrust Insurance | Bbb+ | Jun 30 , 2019 | Nigeria | |
| Linkage Assurance Plc | A- | Jun 30 , 2019 | Nigeria | |
| Anchor Insurance Limited | Bbb- | Jun 30 , 2019 | Nigeria | |
| Zenith General Insurance Company Limited | A+ | Jun 30 , 2019 | Nigeria | |
| FBN Insurance Limited | A+ | Jun 30 , 2019 | Nigeria | |
| Consolidated Hallmark Insurance Plc | Bbb | Jun 30 , 2019 | Nigeria |
Microfinance Banks
Mortgage Institutions
Municipals
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Jigawa State Government | Bbb | Dec 31 , 2025 | Stable | Nigeria |
| Edo State Government | Bbb- | Sep 30 , 2024 | Stable | Nigeria |
| Lagos State Government of Nigeria | Aa- | Sep 30 , 2024 | Stable | Nigeria |
| Edo State Government | Bbb- | Sep 30 , 2023 | Stable | Nigeria |
| Lagos State Government | Aa- | Sep 30 , 2023 | Stable | Nigeria |
| Ogun State Government | Bbb+ | Sep 30 , 2023 | Stable | Nigeria |
Municipal Bonds
Securities & Investment Firms
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| First Ally Capital Limited | Bbb/A2 | Jun 30 , 2026 | Stable | Nigeria |
| Chapel Hill Advisory Partners Limited | A | Sep 22 , 2025 | Stable | Nigeria |
| MBO Capital Management Limited | Bbb- | Jun 30 , 2026 | Stable | Nigeria |
| TrustBanc Holdings Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| DLM Capital Group Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| United Capital Plc | A- | Jun 30 , 2025 | Negative | Nigeria |
| CardinalStone Financing SPV Plc's Series I Bond | A- | Dec 31 , 2025 | Stable | Nigeria |
| Comercio Partners Limited | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| Lotus Capital Limited | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| CardinalStone Partners Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Coronation Group Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Coronation Registrars Limited | A- | Jun 30 , 2025 | Stable | Nigeria |
| Marathon Asset and Fund Management Limited | Bbb- | Jun 30 , 2025 | Stable | Nigeria |
| Afrinvest (West Africa) Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Coronation Securities Limited | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| Adino Global Markets Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Adino Capital Limited | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| Parthian Partners Funding SPV ₦10 billion Bond | Bbb | Jul 27 , 2025 | Stable | Nigeria |
| Parthian Partners Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| CardinalStone Financing SPV Plc’s Series I ₦5 billion Bond | Bbb+ | Dec 31 , 2024 | Stable | Nigeria |
| Afrinvest (West Africa) Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| United Capital Plc's Series II ₦11.7 Billion Bond | A- | Sep 30 , 2024 | Negative | Nigeria |
| Comercio Partners Limited | Bbb- | Jun 30 , 2024 | Stable | Nigeria |
| DLM Capital Group Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Coronation Registrars Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| United Capital Plc's Series I ₦10 Billion Bond | A- | May 31 , 2024 | Negative | Nigeria |
| CardinalStone Partners Group | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
| Parthian Partners Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| United Capital Plc | A- | Jun 30 , 2024 | Negative | Nigeria |
| Parthian Partners Funding SPV Plc’s ₦10 Billion Bond | Bbb | Jul 27 , 2024 | Stable | Nigeria |
| Marathon Asset and Fund Management Limited | Under Review | -- | Stable | Nigeria |
| Coronation Registrars Limited | Bbb+ | Jun 30 , 2023 | Stable | Nigeria |
| Coronation Securities Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| CardinalStone Financing SPV Plc’s Series I ₦5 billion Bond | Bbb | Dec 31 , 2023 | Stable | Nigeria |
| DLM Capital Group Limited | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| TrustBanc Holdings Limited | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| Stanbic IBTC Ventures Limited | A+ | Jun 30 , 2023 | Stable | Nigeria |
| United Capital Plc's Series I ₦10 Billion Bond | A- | May 29 , 2023 | Stable | Nigeria |
| CardinalStone Partners Limited | Bbb | Aug 31 , 2023 | Stable | Nigeria |
| United Capital Plc's Series II ₦11.7 Billion Bond | A- | Aug 29 , 2023 | Stable | Nigeria |
| Parthian Partners Funding SPV Plc’s ₦10 billion Bond | Bbb- | Jul 27 , 2023 | Stable | Nigeria |
| Lotus Capital Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| United Capital Plc | A- | Jun 30 , 2023 | Stable | Nigeria |
| Comercio Partners Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| Parthian Partners Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| CardinalStone Financing SPV Plc’s ₦5 billion Series 1 Bond | Bbb | Dec 31 , 2022 | Stable | Nigeria |
| United Capital Plc’s ₦10 billion Series I Bond | A- | May 29 , 2022 | Stable | Nigeria |
| CardinalStone Partners Group | review in progress | -- | -- | Nigeria |
| Parthian Partners Limited | Bbb | Jun 30 , 2022 | Stable | Nigeria |
| United Capital Plc | A- | Jun 30 , 2022 | Stable | Nigeria |
| Coronation Registrars Limited | Bbb+ | Jun 30 , 2021 | Stable | Nigeria |
| Parthian Partners Limited | Bbb | Jun 30 , 2021 | Stable | Nigeria |
| United Capital Plc | A- | Jun 30 , 2021 | Stable | Nigeria |
| CardinalStone Partners Limited | Bbb- | Jun 30 , 2021 | Stable | Nigeria |
| United Capital Plc | Bbb+ | Jun 30 , 2020 | Nigeria | |
| United Capital Plc | BBB+ | Jun 30 , 2019 | Nigeria |
Sovereigns & Supranationals
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Federal Republic of Nigeria | B+ | Jul 16 , 2026 | Stable | Nigeria |
| Africa Finance Corporation | Aaa (NGA), Aa (S2 ) |
Jun 30 , 2025 | Stable | Nigeria |
| Africa Finance Corporation | Aaa (NGA) / Aa |
Jun 30 , 2024 | Stable | Nigeria |
| Shelter Afrique's Series I ₦27.18 Billion & ₦18.82 Billion Bonds | A+(ngr) | Apr 19 , 2023 | Stable | Nigeria |
| Africa Finance Corporation | Aaa (NGA) / Aa |
Jun 30 , 2023 | Stable | Nigeria |
| Shelter Afrique | A(ken) / A+(ngr) |
Jun 30 , 2023 | Stable | Nigeria |
| Nigeria Sovereign Investment Authority. | Aaa (NGA) | Jun 30 , 2023 | Stable | Nigeria |
| Shelter Afrique | review in progress | -- | -- | Kenya |
| Africa Finance Corporation | Aa (FCY) Aaa(NGR) |
Jun 30 , 2022 | Stable | Nigeria |
| Infrastructure Credit Guarantee Company Limited | Aaa | Jun 30 , 2022 | Stable | Nigeria |
| Africa Finance Corporation | Aaa(NGA)... | Jun 30 , 2021 | Stable | Nigeria |
| Africa Finance Corporation | Aaa(NGN),.. | Jun 30 , 2020 | Nigeria | |
| Bank of Industry Limited | Aa | Sep 30 , 2020 | Nigeria | |
| Infrastructure Credit Guarantee Company Limited | Aaa | Jun 30 , 2020 | Nigeria | |
| Bank of Industry Limited | Aa | Sep 30 , 2019 | Nigeria | |
| Infracredit Limited | Aaa | Jun 30 , 2019 | Nigeria |
Trustee Firms
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Coronation Trustees Limited | A2/Bbb | Jun 30 , 2026 | Stable | Nigeria |
| Greenwich Trustees Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| Coronation Trustees Limited | Bbb | Jun 30 , 2025 | Stable | Nigeria |
| UTL Trust Management Services Limited | Bbb+ | Jun 30 , 2025 | Stable | Nigeria |
| Greenwich Trustees Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Coronation Trustees Limited. | Bbb- | Jun 30 , 2023 | Stable | Nigeria |
| Greenwich Trustees Limited | Bbb | Jun 30 , 2023 | Stable | Nigeria |
| GTL Trustees Limited | Bbb- | Jun 30 , 2020 | Nigeria |
