Agusto & Co affirms the A-(f) rating assigned to Zenith Money Market Fund
The rating expires on 18 March 2022.
Agusto & Co affirms the A-(f) rating assigned to Zenith Money Market Fund (‘Zenith MMF’ or ‘the Fund’). The rating is upheld by the Fund’s low exposure to liquidity and interest rate risks. However, the rating is constrained by breaches of regulatory and internal guidelines. The rating also takes into consideration the impact of the weakening macroeconomic environment and the prevailing low yields on money market securities in Nigeria.