Rating Release

Agusto & Co. hereby affirms the “Aaa” rating assigned to GPC-SPV Company PLC’s (“the Issuer”) ₦20 Billion Ten-Year 13% Series 1 Senior Guaranteed Fixed Rate Bond Due 2031 (“Series 1 Bond”, “the Bond” or “the Issue”) under the ₦50 Billion Bond Issuance Programme.

The rating expires on 23 November 2026. 

Agusto & Co. hereby affirms the “Aaa” rating assigned to GPC-SPV Company PLC’s (“the Issuer”) ₦20 Billion Ten-Year 13% Series 1 Senior Guaranteed Fixed Rate Bond Due 2031 (“Series 1 Bond”, “the Bond” or “the Issue”) under the ₦50 Billion Bond Issuance Programme. The rating mirrors the “Aaa” rating assigned to the Infrastructure Credit Guarantee Company Limited (“InfraCredit” or “the Guarantor”). The Series 1 Bond benefits from InfraCredit’s irrevocable and unconditional guarantee, which ensures prompt payment of coupon and principal whenever GPC Energy & Logistics Limited (“GPC” or “the Sponsor”) is unable to honour its debt obligations to the Series 1 Bondholders.