Rating Release
Agusto & Co. hereby affirms CardinalStone Partners Limited’s (“CSPL” or “the Company”) “A-” (long term) and “A1” (short term) ratings with a stable outlook
The rating expires on 30 June 2026
Agusto & Co. hereby affirms CardinalStone Partners Limited’s (“CSPL” or “the Company”) “A-” (long term) and “A1” (short term) ratings. The ratings reflect CSPL and its subsidiaries’ (“CardinalStone Partners” or “the Group”) adequate capitalisation and good funding and liquidity profile hinged on the significant holdings of liquid and marketable assets, its diverse funding base and ability to refinance maturing obligations. The ratings are also upheld by CardinalStone Partners’ good profitability metrics relative to peers and experienced management team. However, the ratings are constrained by the Group’s material exposure to market risk given its substantial investment in equities and the sizable contribution of volatile trading and fair value gains to earnings and the attendant threat to consistency in performance. We have also considered the lingering macroeconomic headwinds and the likely impact on CardinalStone Partners’ operations.
CardinalStone Partners is a diversified financial services group that provides bespoke financial solutions including financial advisory, issuing house, asset management, securities brokerage, registrar, portfolio management, secured financing, trusteeship and pension fund administration.
