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Agusto & Co assigns a BBB+(IM) rating to Africa Plus Partners

RATING RELEASE

Agusto & Co assigns a BBB+(IM) rating to Africa Plus Partners.

The rating expires on 31 May 2020.

Agusto & Co assigns a BBB+(IM) rating to Africa Plus Partners Limited (APPL or ‘the Manager’). The rating assigned to APPL is supported by the Manager’s highly qualified and well experienced investment committee, good governance structure around the Fund and well-established deal selection and decision-making process. The rating is however, constrained by the absence of an internal audit function, overlapping functions amongst core staff and the Manager’s limited track-record in the Nigerian asset management industry.

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.