Latest Ratings

Banks

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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- Sep 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

Bank Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
TAJBank Sukuk Issuance Programme SPV Plc Bbb Nov 30 , 2024 Stable Nigeria
NOVAMBL Investments SPV Plc’s ₦10 billion Bond Bbb- May 20 , 2024 Stable Nigeria
Wema Funding SPV Plc’s Series II ₦17.7 billion bond Bbb+ Sep 10 , 2024 Stable Nigeria
FBNQ MB Funding SPV Plc’s Series 2 ₦8 billion Bond A- Jun 30 , 2024 Stable Nigeria
Union Bank of Nigeria Plc’s Series 2 ₦6.3 Billion Bond A- Jun 30 , 2024 Stable Nigeria
Union Bank of Nigeria Plc’s Series 3 ₦30 Bond Bbb+ Jun 27 , 2024 Stable Nigeria

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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
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

Corporate Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
LFZC Funding SPV Plc’s ₦25 Billion Bond  Aaa Mar 16 , 2025 Stable Nigeria
LFZC Funding SPV Plc’s ₦10.5 Billion Bond Aaa Sep 16 , 2025 Stable Nigeria
LFZC Funding SPV Plc’s ₦17.5 Billion Bond  Aaa Mar 16 , 2025 Stable Nigeria
River Jamieson SPV Limited’s ₦15.306 billion Series 1 and ₦2.25 billion Series 2 Bonds A Mar 14 , 2025 Stable Nigeria
River Jamieson SPV Limited’s ₦24.5 Billion Bond Bbb Dec 31 , 2024 Stable Nigeria
GPC-SPV Company PLC’s ₦20 Billion Bond Aaa Nov 23 , 2024 Stable Nigeria
MTN Nigeria Communications Plc's ₦89.99 Billion 10-Year Series II Bond Due 2031 Aa+ Sep 30 , 2024 Stable Nigeria
MTN Nigeria Communications Plc's ₦10 Billion Series 1 Bonds Due 2026 and ₦104.9 Billion Series 1 Bonds Aa+ Sep 30 , 2024 Stable Nigeria
Presco PLC's ₦34.5 billion Seven-Year Senior Unsecured Fixed Rate Bonds Due 2029 Aa- Jun 30 , 2024 Stable Nigeria
Sundry Foods Funding SPV PLC’s up to ₦5.5 Billion Five-Year Fixed Rate Senior Unsecured Bond Due 2028 A- Jun 30 , 2024 Stable Nigeria
Sundry Foods Funding SPV PLC’s ₦2.5 bil+B47lion 5-Year 13.5% Fixed Rate Bond Due 2026 A- Dec 15 , 2024 Stable Nigeria
BUA Cement PLC’s ₦115 billion 7.5% Seven-Year Senior Unsecured Fixed Rate Bond Due 2027 A+ Dec 31 , 2024 Stable Nigeria
GEL Utility Funding SPV PLC's ₦13 Billion Infrastructure Bond Due 2034 Aaa Aug 31 , 2024 Stable Nigeria
NECIT Nigeria Limited's Up to ₦10 billion Commercial Papers under the ₦20 billion Programme A Jun 30 , 2024 Stable Nigeria
MTN Nigeria Communications PLC's ₦110 Billion Seven-Year 13% Senior Unsecured Fixed Rate Series 1 Bond Aa+ Jun 30 , 2024 Stable Nigeria
ABC Transport Plc's ₦900 Billion Five-Year 16.5% Fixed Rate Senior Secured Bond Bbb- Jun 30 , 2024 Negative Nigeria
Flour Mills of Nigeria PLC’s ₦4.89 billion 5-Year 5.5% Fixed Rate Senior Unsecured Bond and ₦25 billion 7-Year 6.25% Fixed Rate Senior Unsecured Bond A- Dec 15 , 2024 Stable Nigeria
Aradel Plc's (formerly NDEP) ₦10.318 billion Five-Year 17% Fixed Rate Senior Unsecured Bond A+ Jun 30 , 2024 Stable Nigeria
Geregu Power Plc’s ₦40.085 Billion 7-Year 14.5% Senior Unsecured Fixed Rate Bond Bbb+ Jul 28 , 2024 Stable Nigeria
Axxela Funding 1 Plc’s ₦11.5 Billion Series 1 Seven-Year 14.3% Fixed Rate Bond Due 2027 Bbb+ May 31 , 2024 Stable Nigeria
AFEX Fair Trade Limited ₦150 Billion Asset-Backed Commercial Paper S3 sf Nov 30 , 2024 Stable Nigeria
Accelerex Funding SPV Plc’s ₦2.275 billion 14% Series 1 Senior Bond Bbb- Jun 30 , 2024 Stable Nigeria
Axxela Funding 1 Plc's up to ₦15 Billion Ten-Year Series 1 Bond A- Nov 30 , 2024 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
Bank of Industry Limited Aaa Sep 29 , 2024 Stable Nigeria
Infrastructure Credit Guarantee Company Limited Aaa Jun 30 , 2024 Stable Nigeria
Family Homes Sukuk Issuance Program Plc’s Series II ₦20 billion Sukuk A+ Sep 19 , 2024 Stable Nigeria
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

Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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

Funds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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
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

Investment Managers

Our investment manager rating reflects our opinion on the risk management and investment capabilities of an asset management company. Our investment manager rating is NOT a credit assessment and does not express our opinion on the ability of a Manager to meet its financial obligations as and when due.
COMPANY RATING EXPIRY OUTLOOK COUNTRY
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
ARM Investment Managers Limited AA(IM) Jul 26 , 2024 Stable Nigeria

Insurance Companies

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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

Microfinance Banks

COMPANY RATING EXPIRY OUTLOOK COUNTRY
HASAL Microfinance Bank Limited Bb Jun 30 , 2024 Stable Nigeria
DavoDani Microfinance Bank Limited Bb+ Jun 30 , 2024 Stable Nigeria
NPF Microfinance Bank Plc A- Jun 30 , 2024 Stable Nigeria
LAPO Microfinance Bank Limited Bbb- Jun 30 , 2024 N/A Nigeria
Advans La Fayette Microfinance Bank Limited Bbb- Jun 30 , 2024 Stable Nigeria
Lagos State Government’s Series 2 Tranche II: ₦38.7 Billion and Tranche IV: ₦5.3 Billion Bonds Aa Sep 30 , 2024 Stable Nigeria
Renmoney Microfinance Bank Limited SR 3 Sep 11 , 2024 Stable Nigeria
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
Infinity Trust Mortgage Bank Plc Bbb+ Jun 30 , 2024 Stable Nigeria
Infinity Trust Mortgage Bank Plc SR3 Jan 19 , 2025 Stable Nigeria
Living Trust Mortgage Bank Plc Bbb- Jun 30 , 2024 Stable Nigeria
Jubilee-Life Mortgage Bank Plc SR 3 Jan 16 , 2025 N/A Nigeria
Abbey Mortgage Bank Plc Bbb- Jun 30 , 2024 Stable Nigeria
AG Mortgage Bank Plc Bb Jun 30 , 2024 Stable Nigeria
Nigeria Mortgage Refinance Company Plc Aa Jun 30 , 2024 Stable Nigeria

Municipals

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Edo State Government Bbb- Sep 30 , 2024 Stable Nigeria
Lagos State Government of Nigeria Aa- Sep 30 , 2024 Stable Nigeria

Municipal Bonds

Securities & Investment Firms

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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

Sovereigns & Supranationals

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Africa Finance Corporation Aaa (NGA) /
Aa
Jun 30 , 2024 Stable Nigeria

Trustee Firms

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Greenwich Trustees Limited Bbb Jun 30 , 2024 Stable Nigeria
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Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
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
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

Corporate Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
LFZC Funding SPV Plc’s ₦25 Billion Bond  Aaa Mar 16 , 2025 Stable Nigeria
LFZC Funding SPV Plc’s ₦10.5 Billion Bond Aaa Sep 16 , 2025 Stable Nigeria
LFZC Funding SPV Plc’s ₦17.5 Billion Bond  Aaa Mar 16 , 2025 Stable Nigeria
River Jamieson SPV Limited’s ₦15.306 billion Series 1 and ₦2.25 billion Series 2 Bonds A Mar 14 , 2025 Stable Nigeria
River Jamieson SPV Limited’s ₦24.5 Billion Bond Bbb Dec 31 , 2024 Stable Nigeria
GPC-SPV Company PLC’s ₦20 Billion Bond Aaa Nov 23 , 2024 Stable Nigeria
MTN Nigeria Communications Plc's ₦89.99 Billion 10-Year Series II Bond Due 2031 Aa+ Sep 30 , 2024 Stable Nigeria
MTN Nigeria Communications Plc's ₦10 Billion Series 1 Bonds Due 2026 and ₦104.9 Billion Series 1 Bonds Aa+ Sep 30 , 2024 Stable Nigeria
Presco PLC's ₦34.5 billion Seven-Year Senior Unsecured Fixed Rate Bonds Due 2029 Aa- Jun 30 , 2024 Stable Nigeria
Sundry Foods Funding SPV PLC’s up to ₦5.5 Billion Five-Year Fixed Rate Senior Unsecured Bond Due 2028 A- Jun 30 , 2024 Stable Nigeria
Sundry Foods Funding SPV PLC’s ₦2.5 bil+B47lion 5-Year 13.5% Fixed Rate Bond Due 2026 A- Dec 15 , 2024 Stable Nigeria
BUA Cement PLC’s ₦115 billion 7.5% Seven-Year Senior Unsecured Fixed Rate Bond Due 2027 A+ Dec 31 , 2024 Stable Nigeria
GEL Utility Funding SPV PLC's ₦13 Billion Infrastructure Bond Due 2034 Aaa Aug 31 , 2024 Stable Nigeria
NECIT Nigeria Limited's Up to ₦10 billion Commercial Papers under the ₦20 billion Programme A Jun 30 , 2024 Stable Nigeria
MTN Nigeria Communications PLC's ₦110 Billion Seven-Year 13% Senior Unsecured Fixed Rate Series 1 Bond Aa+ Jun 30 , 2024 Stable Nigeria
ABC Transport Plc's ₦900 Billion Five-Year 16.5% Fixed Rate Senior Secured Bond Bbb- Jun 30 , 2024 Negative Nigeria
Flour Mills of Nigeria PLC’s ₦4.89 billion 5-Year 5.5% Fixed Rate Senior Unsecured Bond and ₦25 billion 7-Year 6.25% Fixed Rate Senior Unsecured Bond A- Dec 15 , 2024 Stable Nigeria
Aradel Plc's (formerly NDEP) ₦10.318 billion Five-Year 17% Fixed Rate Senior Unsecured Bond A+ Jun 30 , 2024 Stable Nigeria
Geregu Power Plc’s ₦40.085 Billion 7-Year 14.5% Senior Unsecured Fixed Rate Bond Bbb+ Jul 28 , 2024 Stable Nigeria
Axxela Funding 1 Plc’s ₦11.5 Billion Series 1 Seven-Year 14.3% Fixed Rate Bond Due 2027 Bbb+ May 31 , 2024 Stable Nigeria
AFEX Fair Trade Limited ₦150 Billion Asset-Backed Commercial Paper S3 sf Nov 30 , 2024 Stable Nigeria
Accelerex Funding SPV Plc’s ₦2.275 billion 14% Series 1 Senior Bond Bbb- Jun 30 , 2024 Stable Nigeria
Axxela Funding 1 Plc's up to ₦15 Billion Ten-Year Series 1 Bond A- Nov 30 , 2024 Stable Nigeria
NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1 Aaa Dec 31 , 2033 Stable Nigeria