Agusto & Co. assigns an A-(f) rating to Abacus Money Market Fund.
The rating expires on 27 May 2022.
Agusto & Co. assigns an A-(f) rating to Abacus Money Market Fund (“the Fund” or “Abacus MMF”). The rating reflects the Fund’s low exposure to liquidity risk and sizeable investments in Treasury Bills, despite the low yield environment. However, the rating is impaired by consistent breaches of concentration limits as well as a deterioration in the credit quality of the Fund. We have also considered the impact of the weakening macroeconomic environment and prevailing low yields on money market securities in Nigeria.