Agusto & Co. hereby affirms the Aa-(f) rating of FBN Money Market Fund
The rating expires on 31 December 2023.
Agusto & Co affirms the Aa-(f) rating assigned to FBN Money Market Fund (‘FBN MMF’ or ‘the Fund’). The rating is upheld by the Fund’s improved adherence to regulatory requirements, good investment process and low exposure to liquidity and interest rate risks. The rating also reflects the adequate internal credit assessments conducted on proposed counterparties. Nonetheless, the rating is constrained by the skewness of the portfolio towards the lower end of the acceptable rating scale. We have also considered the impact of the weakening macroeconomic environment, which has the potential to heighten risk exposures and pressure investment performance.