Rating Release
Agusto & Co. hereby affirms the “Aaa” rating assigned to LFZC Funding SPV Plc’s ₦10.5 Billion Bond
The rating expires on 16 September 2025
Agusto & Co. hereby affirms the “Aaa” rating assigned to LFZC Funding SPV Plc’s (“LFZC Funding SPV”, “the Issuer”, or “the Company”) ₦10.5 Billion 20-Year 13.25% Senior Guaranteed Fixed Rate Infrastructure Bond Due 2041 (“Series 1 Bond”, “the Bond” or “the Issue”) under the ₦50 Billion Bond Issuance Programme. The rating mirrors the “Aaa” rating of Infrastructure Credit Guarantee Company Limited (“InfraCredit” or “the Guarantor”) and underscores the low default risk associated with the Series 1 Bond. This is based on the subsisting guarantee arrangement that allows InfraCredit to step in and continue to honour payment obligations to the Series 1 Bondholders should the Issuer and Lagos Free Zone Company (“the Co-Obligor” or “the Sponsor”) fail to do so within the specified time.
