Agusto & Co affirms the A-(f) rating assigned to Zenith Money Market Fund

Agusto & Co affirms the A-(f) rating assigned to Zenith Money Market Fund

Rating Release

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.

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

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Credit Direct Limited Bbb Jun 30 , 2022 Stable Nigeria
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Corporates

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