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.