Agusto & Co. has affirmed the ‘BBB+(IM)’ rating assigned to Africa Plus Partners Limited.
The rating expires on 24 October 2021
The rating assigned to Africa Plus Partners Limited (APPL or ‘the Manager’) takes into consideration the ongoing COVID-19 pandemic and its impact on the construction and infrastructure sectors of the Nigerian economy. The rating also reflects the Manager’s good research function, well-defined and established processes for decision-making and a team of skilled and qualified professionals. However, the rating remains constrained by APPL’s very limited deal execution history and exposure to key person risk in the research unit.
The Manager is a specialist asset management company with a focus on small to medium scale infrastructure projects. APPL is a pioneer in the infrastructure fund space, co-managing Nigeria’s first equity-based, Naira-denominated infrastructure fund – the Africa Infrastructure Plus Fund (AIPF or ‘the Fund’). The Manager’s key strategy is to provide funding for small to medium scale infrastructure projects or provide bridge finance to large scale projects nearing completion.
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.