Agusto & Co. assigns a ‘Bbb-’ rating to Lukefield Finance Company Limited with a stable outlook.

Rating Category: Finance & Leasing

Agusto & Co. assigns a ‘Bbb-’ rating to Lukefield Finance Company Limited with a stable outlook.

Rating Release

Agusto & Co. assigns a ‘Bbb-’ rating to Lukefield Finance Company Limited with a stable outlook.

The rating expires on 30 June 2023.

Agusto & Co. hereby assigns a “Bbb-” rating to Lukefield Finance Company Limited (“Lukefield” or “the Company”). The rating is supported by Lukefield’s strong capitalisation, good support from shareholders, low leverage, acceptable profitability and low non-performing loan (NPL) ratio. The rating is, however, constrained by the Company’s limited operating history, concentration in funding and significant volume of unseasoned loans. We have also considered the impact of the weak macroeconomic fundamentals on Lukefield’s business.

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.

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