Agusto & Co. assigns a Aa- to Lagos State Government’s ₦97.3 billion Series II Tranches I-IV Bond

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Agusto & Co. assigns a Aa- to Lagos State Government’s ₦97.3 billion Series II Tranches I-IV Bond

Agusto & Co. assigns a Aa- to Lagos State Government’s ₦97.3 billion Series II Tranches I-IV Bond:

₦46.3 billion 7-Year 16.75% due 2024 (Series II Tranche I) Due December 2024

₦38.7 billion 10-Year 17.25% due 2027 (Series II Tranche II) Due December 2027

₦6.91 billion 6 7/12-Year 15.60% Due 2024 (Series II Tranche III) Due December 2024

₦5.34 billion 9 7/12-Year 15.85% Due 2027 (Series II Tranche IV) Due December 2027

This rating expires 30 September 2019.

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

COMPANY	RATING	EXPIRY	OUTLOOK	COUNTRY
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

Corporate Bonds

COMPANY	RATING	EXPIRY	OUTLOOK	COUNTRY
Axxela Funding 1 Plc’s Series 1 Bond	A-	May 31 , 2022	Stable	Nigeria
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
Municipality Waste Management Contractors Limited up to ₦27 Billion Series 1 (Tranches A, B & C) Bond	Awaiting Review	--	-	Nigeria