Rating Release
Agusto & Co. hereby affirms the Bbb-(f) rating of GDL Money Market Fund
The rating expires on 2 July 2024.
Agusto & Co. hereby affirms the Bbb-(f) rating assigned to GDL Money Market Fund (‘GDL MMF’ or ‘the Fund’). The rating is upheld by GDL MMF’s moderate exposure to credit risk and low exposure to liquidity and interest rate risks. Nonetheless, the rating is constrained by obligor and unitholder concentration as well as the continued shift toward the lower end of the acceptable rating scale. We have also considered the impact of the weak macroeconomic environment, which has the potential to elevate investment and business risks.