Banks
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Union Bank of Nigeria Plc | A- | Sep 30 , 2024 | Stable | Nigeria |
| Coronation MB Funding SPV Plc | Bbb+ | 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 |
| United Bank for Africa Plc | Aa- | Dec 31 , 2023 | Stable | Nigeria |
Bank Bonds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Agusto & Co. hereby maintains the ‘Bbb+’ rating assigned to Union Bank of Nigeria Plc’s ₦30 billion Bond | Bbb+ | Jun 27 , 2024 | Stable | Nigeria |
| Fidelity Bank Plc’s ₦41.2 Billion Bond | A- | Jan 07 , 2024 | Stable | Nigeria |
| Access Bank Plc.’s ₦15 billion bond | Aa | Dec 31 , 2023 | Stable | Nigeria |
| FSDH Funding SPV Plc’s Series I Bond | A- | Dec 04 , 2023 | Stable | Nigeria |
Corporates
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Lagos State Government | Aa- | Sep 30 , 2023 | Stable | Nigeria |
Corporate Bonds
Development Finance Institution
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Shelter Afrique | A(ken)/ A+(ngr) |
Jun 30 , 2024 | Stable | Nigeria |
| Family Homes Sukuk Issuance Program Plc’s Series I ₦10 billion Sukuk | Aa- | Jul 15 , 2024 | Stable | Nigeria |
| Family Homes Funds Limited | A+ | Jun 30 , 2024 | Stable | Nigeria |
| Development Bank of Nigeria Plc | Aaa | Jun 30 , 2024 | Stable | Nigeria |
| Bank of Industry Limited | Aaa | Sep 30 , 2023 | Stable | Nigeria |
Finance & Leasing
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Credit Direct Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Fast Credit Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Citihomes Finance Company Limited | SR3 | Nov 24 , 2023 | Stable | Nigeria |
Funds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
Investment Managers
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
Insurance Companies
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| NEM Insurance Plc | A+ | Jun 30 , 2024 | Stable | Nigeria |
Microfinance Banks
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| AB Microfinance Bank Limited | A- | Jun 30 , 2024 | Stable | Nigeria |
| Infinity Microfinance Bank Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
| Accion Microfinance Bank Limited | Bbb+ | Jun 30 , 2024 | Stable | Nigeria |
Mortgage Institutions
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| AG Mortgage Bank Plc | Bb | Jun 30 , 2024 | Stable | Nigeria |
| Nigeria Mortgage Refinance Company Plc’s Series II ₦11 Billion Bond | Aaa(NG) | Mar 15 , 2024 | Stable | Nigeria |
| Nigeria Mortgage Refinance Company Plc | Aa | Jun 30 , 2024 | Stable | Nigeria |
| Infinity Trust Mortgage Bank Limited | SR3 | Jan 19 , 2024 | Stable | Nigeria |
| Nigeria Mortgage Refinance Company Plc’s Series III ₦10 Billion Bond | Aaa(NG) | Nov 02 , 2023 | Stable | Nigeria |
Municipals
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
|---|---|---|---|---|
| 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 | Bbb- | Apr 30 , 2024 | Stable | Nigeria |
| CardinalStone Financing SPV Plc’s Series I ₦5 billion Bond | Bbb | Dec 31 , 2023 | Stable | Nigeria |
Sovereigns & Supranationals
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|
No Current Ratings
Trustee Firms
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Greenwich Trustees Limited | Bbb | Jun 30 , 2024 | Stable | Nigeria |
