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Agusto & Co. affirms the “Aaa” rating to the Nigeria Mortgage Refinance Company’s ₦11 billion, 15-year, Second Series Bond

Rating Release

Agusto & Co. affirms the “Aaa” rating to the Nigeria Mortgage Refinance Company’s (“NMRC” or “The Company”) 11 billion, 15-year, Second Series Bond (“the Issue” or “the Bond”). The Bond is the second tranche under the Company’s 440 billion debt issuance programme.

The Rating expires on 30 June 2020.

The rating is supported by the unconditional and irrecoverable guarantee issued by the Federal Government of Nigeria for the due and punctual performance by the Issuer of all its payment obligations in relation to notes issued by the NMRC for an amount not exceeding ₦100 billion. The Bond will rank pari passu with present and future outstanding unsecured and unsubordinated obligations of the Issuer and the guarantor (the Federal Government of 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.