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.
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