image

Agusto & Co. affirms the ‘A+’ rating assigned to Coronation Merchant Bank Limited

Rating Release

Agusto & Co. affirms the ‘A+’ rating assigned to Coronation Merchant Bank Limited.

The rating expires on 30 June 2021.

The rating assigned to Coronation Merchant Bank Limited (‘Coronation MB’ or ‘the Bank’) reflects the Bank’s leading position in the merchant banking segment. The rating also reflects Coronation MB’s good capitalisation, nil impaired loan ratio and good liquidity position. However, constraining the rating is lingering concentration in the loan book and relatively high funding costs. The rating also takes into cognition, the impact of the COVID-19 pandemic, which has led to severe economic uncertainties.

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.