Rating Release
Agusto & Co. hereby affirms the A(f) rating of First Ally Money Market Fund
The rating expires on 25 June 2024
Agusto & Co. affirms the A(f) rating assigned to First Ally Money Market Fund (“First Ally MMF” or “the Fund”). The rating reflects the Fund’s low exposure to liquidity and interest rate risks as well as the sizeable holding of Federal Government of Nigeria (FGN) securities. However, the rating remains constrained by breaches of regulatory guidelines and significant obligor concentration. We have also taken into consideration the frequent changes in the leadership of the portfolio management team.
