Rating Release
Agusto & Co. affirms the ‘A’ rating assigned to FSDH Merchant Bank Limited.
The rating expires on 30 June 2021.
The rating assigned to FSDH Merchant Bank Limited (‘FSDH’ or ‘the Bank’) reflects the Bank’s good capitalisation which provides buffer during these times of heightened economic risk, acceptable profitability levels and an experienced and conservative management team. However, the rating is constrained by the accentuated economic risks elicited by the COVID-19 pandemic, and a high degree of concentration risk in the loan book.
