Agusto & Co. assigns an A-(f) rating to Abacus Money Market Fund

Agusto & Co. assigns an A-(f) rating to Abacus Money Market Fund

Rating Release

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.

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.

Finance & Leasing

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Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
Axxela Limited A- Jun 30 , 2022 Stable Nigeria
Kawai Technologies Limited Bb Jun 30 , 2022 Neutral Nigeria