Agusto & Co. affirms the ‘SR3’ servicer rating assigned to Infinity Trust Mortgage Bank Plc.

Rating Category: Mortgage Institutions

Agusto & Co. affirms the ‘SR3’ servicer rating assigned to Infinity Trust Mortgage Bank Plc.

Rating Release

Agusto & Co. affirms the ‘SR3’ servicer rating assigned to Infinity Trust Mortgage Bank Plc.

The rating expires on 17 December 2022.

Agusto & Co. hereby affirms the ‘SR3’ rating assigned to Infinity Trust Mortgage Bank Plc (“Infinity Trust” or “the Servicer”). The rating is supported by an experienced and stable management team, adequate governance and risk management structure, a satisfactory loan administration process and an adequate collection process. The rating is, however, constrained by the Servicer’s manual credit appraisal system.

Infinity Trust is licensed as a national primary mortgage bank by the Central Bank of Nigeria (CBN). The Servicer, which was established in 2002, provides financial services including the origination and servicing of residential and commercial mortgages and the provision of construction finance to real estate developers. Infinity Trust also offers deposit products to customers including current and savings accounts.

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.
Send via WhatsApp

Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Citihomes Finance Company Limited SR3 Nov 24 , 2023 Stable Nigeria
Lukefield Finance Company Limited Bbb- Jun 30 , 2023 Stable Nigeria
Credit Direct Limited Bbb Jun 30 , 2023 Stable Nigeria

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
North South Power Company Limited A- Jun 30 , 2023 Stable Nigeria
African Foundries Limited Bbb+ Jun 30 , 2023 Stable Nigeria

Corporate Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Viathan Funding Plc.’s ₦10 billion 10-year Series 1 Senior Guaranteed Fixed Rate Bond Due 2027 Aaa Dec 31 , 2027 Stable Nigeria
NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1 Aaa Dec 31 , 2033 Stable Nigeria