Agusto and Co. assigns a Aa- fund credit quality rating and an FV3 fund volatility rating to Legacy Debt Fund

Agusto and Co. assigns a Aa- fund credit quality rating and an FV3 fund volatility rating to Legacy Debt Fund

Rating Release

Agusto and Co. assigns a Aa- fund credit quality rating and an FV3 fund volatility rating to Legacy Debt Fund

The rating expires on 14 June 2022.

Agusto and Co. assigns a Aa- fund credit quality rating and an FV3 fund volatility rating to Legacy Debt Fund (‘the Fund’ or ‘LDF’). The ratings reflect the Fund’s consistently conservative credit portfolio in the last three years (with over 77% of net assets on average in low risk government securities), an improved credit assessment process supported by the internal credit rating model of the FCMB Group and low exposure to liquidity risk. The ratings also take into consideration the Fund’s moderate exposure to interest rate risk, largely manual investment monitoring process and the impact of the weak macroeconomic environment.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.

Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Credit Direct Limited Bbb Jun 30 , 2022 Stable Nigeria
Citihomes Finance Company Limited SR3 Jul 05 , 2022 N/A Nigeria
WSTC Financial Services Limited Bbb+ Mar 31 , 2022 Stable Nigeria

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Axxela Limited A- Jun 30 , 2022 Stable Nigeria
Kawai Technologies Limited Bb Jun 30 , 2022 Neutral Nigeria