Rating Release
Agusto & Co. hereby affirms Parthian Partners Limited’s “Bbb” credit rating with a stable outlook.
The rating expires on 30 June 2025.
Agusto & Co. hereby maintains the “Bbb” rating assigned to Parthian Partners Limited (“PPL” or “the Company”). The rating reflects PPL’s good profitability, acceptable asset quality and competent management team that has begun to implement the plan to transition to a full-service investment banking group. The rating is, however, constrained by higher funding costs reflective of the prevailing elevated interest rate environment and the cyclical nature of the inter-dealer broker (IDB) business which is volume driven. In addition, the eroding business landscape of IDBs globally and in Nigeria constrains the rating.
