Rating Release

Agusto & Co. hereby affirms the A+(f) and FV4 rating assigned to Coronation Fixed Income Fund

The rating expires on 31 December 2026

Agusto & Co. hereby affirms the A+(f) fund credit quality and FV4 fund volatility ratings assigned to Coronation Fixed Income Fund (‘Coronation FIF’ or ‘CFIF’ or ‘the Fund’). The credit quality rating reflects Coronation FIF’s continued low exposure to credit risk, with an average of 66% of net assets held in securities issued by the Federal Government of Nigeria (FGN). The fund volatility rating reflects CFIF’s moderate duration and good liquidity profile. The ratings also reflect the good operating track record of the fund manager. Nonetheless, we have taken into consideration the weak macroeconomic conditions that continue to constrain the Fund’s growth, CFIF’s significant unitholder concentration, and a narrow portfolio of non-sovereign instruments.