Rating Release
Agusto & Co. assigns a “Bb” rating to HASAL Microfinance Bank Limited.
The rating expires on 30 June 2024.
Agusto & Co. hereby assigns a “Bb” rating to HASAL Microfinance Bank Limited (“HASAL” or the “MFB”). The rating is supported by HASAL’s good liquidity profile and a stable and experienced management team. However, the rating is constrained by weak profitability, low quality of capital, and a high non-performing loan (NPL) ratio. We have also considered the impact of the challenges of Nigeria’s weak economy on the MFB’s operations.
