Rating Release
Agusto & Co. hereby affirms Coronation Securities Limited’s “Bbb+” credit rating with a stable outlook.
The rating expires on 30 June 2025.
Agusto & Co. hereby affirms the “Bbb+” rating assigned to Coronation Securities Limited (‘COSEC’ or ‘the Company’). The rating reflects COSEC’s good capitalisation, low leverage, good liquidity profile and strong support from Coronation Group Limited and other related entities. However, the rating is constrained by the losses suffered by the Company due to lapses in operational risk in the review period and the concentration to related parties in the placements’ portfolio and funding base. Nigeria’s challenging operating environment and the volatile securities market also constrain the rating.
