Rating Release
Agusto & Co. hereby affirms Living Trust Mortgage Bank Plc.’s “Bbb-” credit rating with a stable outlook.
The rating expires on 30 June 2025.
Agusto & Co. hereby affirms the “Bbb-” rating assigned to Living Trust Mortgage Bank Plc (“Living Trust”, “LTMB” or “the Mortgage Bank”). The rating reflects Living Trust’s good capitalisation metrics and liquidity profile and an experienced management team. However, the rating is constrained by the Mortgage Bank’s reliance on expensive time deposits and high non-performing loan ratio in the period under review. We have also taken into cognisance, LTMB’s thinning margins due to rising interest rates and Nigeria’s weak economy.
