Agusto & Co. affirms the A(f) rating assigned to First Ally Money Market Fund

Agusto & Co. affirms the A(f) rating assigned to First Ally Money Market Fund

Rating Release

Agusto & Co. affirms the A(f) rating assigned to First Ally Money Market Fund (‘First Ally MMF’ or ‘the Fund’).

The rating expires on 12 March 2022

The rating reflects the Fund’s low exposure to credit, interest rate and liquidity risks as well as the implementation of a new software (Symplus) which enhanced First Ally MMF’s investment process during the review period. However, the rating is constrained by the breaches in the stipulated minimum weighted average maturity (WAM) in the first quarter of 2020. The assigned rating also takes into cognisance the weakening macroeconomic environment and its impact on the Fund.

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
Citihomes Finance Company Limited SR3 Jul 05 , 2022 N/A Nigeria
WSTC Financial Services Limited Bbb+ Mar 31 , 2022 Stable Nigeria

Corporates

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