All Ratings
Banks
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Fidelity Bank Plc | A | Dec 31 , 2021 | Stable | Nigeria |
| Jaiz Bank Plc | Bbb- | Jun 30 , 2021 | Stable | Nigeria |
| Wema Funding SPV Plc Series II ₦17.7 billion 7-year Fixed Rate Bond | Bbb | Sep 10 , 2021 | Negative | Nigeria |
| FBNQuest Merchant Bank Limited | A | Jun 30 , 2021 | Stable | Nigeria |
| Unity Bank Plc | Bb- | Jun 30 , 2021 | Stable | Nigeria |
| Nova Merchant Bank Limited | Watchlist | -- | N/A | 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 |
| Union Bank of Nigeria Plc’s ₦30 billion, 10-year Fixed-Rate Direct Bond | Bbb+ | Jun 05 , 2021 | Negative | Nigeria |
| Providus Bank Plc | Bb | Jun 30 , 2021 | Stable | Nigeria |
| Union Bank of Nigeria Plc | A- | Jun 30 , 2021 | Negative | Nigeria |
| Coronation Merchant Bank Limited | A+ | Jun 30 , 2021 | Stable | Nigeria |
Corporates
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 | Withdraw | -- | N/A | 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 |
Corporate Bonds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Transcorp Hotels Plc’s Series 1 & 2 Bonds | Bbb | Sep 30 , 2021 | Stable | Nigeria |
| TAK Agro Plc’s ₦15 Billion Bond | Bbb+ | Sep 30 , 2021 | Stable | Nigeria |
| NCNR SPV Limited’s ₦10.5 Billion Bond | A- | Sep 30 , 2021 | Stable | Nigeria |
| Flour Mills of Nigeria Plc.’s ₦10.11 billion Series 1 3-Year 15.5% Fixed Rate Senior Unsecured Bond | A- | Sep 30 , 2021 | Stable | Nigeria |
| UACN Property Development Company Plc’s ₦4.355 Billion Senior Secured Bonds | A- | Apr 30 , 2021 | Stable | Nigeria |
| Viathan Funding Plc.’s ₦10 billion 10-year Series 1 Senior Guaranteed Fixed Rate Bond Due 2027 | Aaa | Dec 31 , 2027 | Stable | Nigeria |
| NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1 | Aaa | Dec 31 , 2033 | Stable | Nigeria |
| Municipality Waste Management Contractors Limited up to ₦27 Billion Series 1 (Tranches A, B & C) Bond | Awaiting Review | -- | - | Nigeria |
Finance & Leasing
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
Funds & Investment Managers
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
| 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 |
| 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 |
| ARM Investment Managers Limited | AA(IM) | Apr 28 , 2021 | Negative | Nigeria |
Insurance Companies
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
Microfinance Banks
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Baobab Microfinance Bank Limited | Bbb | Jun 30 , 2021 | Stable | Nigeria |
| Mainstreet Microfinance Bank Limited | Bbb- | Jun 30 , 2021 | Stable | Nigeria |
| LAPO MFB SPV Plc’s ₦6.2 billion Series II 5-year 13% Fixed Rate Senior Unsecured Bond | Bbb+ | Jun 30 , 2021 | Stable | Nigeria |
| LAPO MFB SPV Plc’s ₦3.15 billion Series I 5-year 17.75% Fixed Rate Senior Unsecured Bond | Bbb+ | Jun 30 , 2021 | Stable | Nigeria |
| LAPO Microfinance Bank Limited | Bbb+ | Jun 30 , 2021 | Stable | Nigeria |
Mortgage Institutions
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Nigeria Mortgage Refinance Company Plc’s ₦10 billion Series III Fixed-Rate Bond | Aaa(NG) | Nov 02 , 2021 | Stable | Nigeria |
| Infinity Trust Mortgage Bank Plc - Servicer Rating | SR3 | Oct 31 , 2021 | N/A | Nigeria |
| Infinity Trust Mortgage Bank Plc | Bbb+ | Jun 30 , 2021 | Stable | Nigeria |
| Nigeria Mortgage Refinance Company Plc Series II ₦11 billion 15-Year Fixed Rate Secured Bond | Aaa(NG) | Jun 30 , 2021 | Stable | Nigeria |
| Total E&P Nigeria Multipurpose Staff Co-operative Society Limited | A- | Jun 30 , 2021 | Stable | Nigeria |
| Nigeria Mortgage Refinance Company Plc | A+ | Jun 30 , 2021 | Stable | Nigeria |
Municipal Bonds
Securities & Investment Firms
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
Trustee Firms
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|
No Current Ratings
Sovereigns & Supranationals
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Africa Finance Corporation | Aaa(NGA)... | Jun 30 , 2021 | Stable | Nigeria |