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Agusto & Co. assigns a ‘Bbb’ rating to Parthian Partners Limited with a Stable Outlook

Rating Release

Agusto & Co. assigns a ‘Bbb’ rating to Parthian Partners Limited with a Stable Outlook

The rating expires on 30 June 2021

Agusto & Co. assigns a ‘Bbb’ rating to Parthian Partners Limited (“PPL” or “the Company”). The rating assigned to PPL reflects the good liquidity and funding profile, improving profitability, support from owners and good capitalisation. However, increasing exposure to interest rate risk and credit risk, lack of dedicated risk management capacity and sizeable non-earning assets cast shadows on the aforementioned positives. The negative impact and lingering effect of the COVID-19 pandemic on the financial markets and Nigerian economy was also taken into cognisance.

PPL is a Securities and Exchange Commission licensed and FMDQ Securities Exchange Limited registered inter-dealer broker. The Company provides wholesale brokerage services for transactions among market dealers and between market dealers and investors including pension fund administrators, fund managers, banks and international financial institutions. PPL primarily facilitates trading in the fixed income securities of the Federal Government of Nigeria (FGN) and other issuers.

 

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.