Rating Methodologies

Our Rating Methodologies

At Agusto & Co., our credit rating methodologies are designed to provide transparent, consistent, and objective assessments of creditworthiness across a wide range of entities and instruments. Our methodologies combine rigorous quantitative analysis with expert qualitative judgment, ensuring a comprehensive evaluation of financial and non-financial risks.

We adopt globally recognized best practices while tailoring our approach to reflect the unique dynamics of the sub-Saharan African markets in which we operate. Our goal is to deliver credible ratings that empower investors, guide issuers, and contribute to the development of robust financial systems.

Explore our methodology documents below to learn more about the frameworks that guide our rating decisions.

Click the link below to see a list of current ratings.

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Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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
Lagos Free Zone Company Bbb Jun 30 , 2025 Stable Nigeria

Corporate Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
LFZC Funding SPV Plc’s ₦10.5 Billion Bond Aaa Sep 16 , 2025 Stable Nigeria
NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1 Aaa Dec 31 , 2033 Stable Nigeria