Banks
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
| TAJBank Limited | Bbb- | Dec 31 , 2022 | Stable | Nigeria |
Bank Bonds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Coronation MB Funding SPV Plc’s ₦25 billion Bond | A | Jun 30 , 2023 | Stable | Nigeria |
| Access Bank Plc ₦30 billion Bond | Aa- | Jun 30 , 2023 | Stable | Nigeria |
| Fidelity Bank Plc's ₦41.2 Billion Bond | A- | Jan 07 , 2023 | Stable | Nigeria |
| Fidelity Bank Plc's ₦41.2 Billion Bond | A- | Jan 07 , 2023 | Stable | Nigeria |
| Access Bank Plc ₦15 billion Green Bond | Aa- | Dec 31 , 2022 | Stable | Nigeria |
| FSDH Funding SPV Plc Series I Bond | A- /A |
Dec 04 , 2022 | Stable | Nigeria |
| Wema Funding SPV Plc’s Series II ₦17.7 billion bond | Bbb | Sep 10 , 2022 | Stable | Nigeria |
Corporates
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|
No Current Ratings
Corporate Bonds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
Development Finance Institution
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Infrastructure Credit Guarantee Company Limited | Aaa | Jun 30 , 2023 | Stable | Nigeria |
| Development Bank of Nigeria Plc | Aaa | Jun 30 , 2023 | Stable | Nigeria |
| Bank of Industry Limited | Aaa | Sep 30 , 2022 | Stable | Nigeria |
Finance & Leasing
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Credit Direct Limited | review in progress | -- | -- | Nigeria |
Funds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
Investment Managers
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| ARM Investment Managers Limited | AA(IM) | Jul 06 , 2023 | N/A | 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 |
Insurance Companies
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|
No Current Ratings
Microfinance Banks
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| NPF Microfinance Bank Plc | A- | Jun 30 , 2023 | Stable | Nigeria |
Mortgage Institutions
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Jigawa Savings & Loans Limited | SR 4 | Jan 11 , 2023 | N/A | Nigeria |
| Infinity Trust Mortgage Bank Plc | SR3 | Dec 17 , 2022 | N/A | Nigeria |
| NMRC’s Series III ₦10 billion 7-Year Fixed Rate Secured Bond | Aaa(NG) | Nov 03 , 2022 | Stable | Nigeria |
| Nigeria Mortgage Refinance Company Plc’s | review in progress | -- | -- | Nigeria |
Municipal Bonds
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Lagos Sate Government’s ₦97.3 billion Series II Tranches I-IV Bond | Aa- | Dec 31 , 2027 | Stable | Nigeria |
| Lagos State's 16.5% ₦47 Billion Bond | Aa- | Dec 31 , 2023 | Stable | Nigeria |
| Kogi State's 17% ₦3 Billion Bond | Bbb+ | Mar 31 , 2025 | Stable | Nigeria |
| Bauchi State's 16.5% ₦10.4 Billion Bond (Formerly ₦15 Billion Bond) | Bbb+ | Dec 31 , 2026 | Stable | Nigeria |
| Kogi State’s 15% ₦5 billion Bond | Bbb+ | Dec 31 , 2023 | Stable | Nigeria |
| Gombe State's 16% ₦12.5 Billion Bond (formerly ₦20 Billion Bond) | Bbb+ | Dec 31 , 2023 | Stable | Nigeria |
Securities & Investment Firms
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| 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 |
| CardinalStone Partners Group | review in progress | -- | -- | Nigeria |
| United Capital Plc | review in progress | -- | -- | Nigeria |
Sovereigns & Supranationals
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|---|---|---|---|
| Shelter Afrique | review in progress | -- | -- | Kenya |
Trustee Firms
| COMPANY | RATING | EXPIRY | OUTLOOK | COUNTRY |
|---|
No Current Ratings
