Rating Release

Agusto & Co. hereby affirms the “Bbb-” rating assigned to Comercio Partners Limited with a stable outlook

The rating expires on 30 June 2025

Agusto & Co. hereby affirms the “Bbb-” rating assigned to Comercio Partners Limited (“CPL” or “the Company”). The rating reflects CPL and its subsidiaries’ (“Comercio Partners”, “CPG” or “the Group”) adequate capitalisation, broad funding sources, experienced management team and low leverage. However, the rating is constrained by the Group’s significant exposures to impaired assets and unrated entities, dominance of owners in governance and management and subpar profitability relative to the peer average. We have also considered the effect of the weak macroeconomic climate on the asset quality and cost of operations amidst the rising inflationary pressures.

Comercio Partners is a financial services group that offers investment banking, asset management, securities trading and alternative investment services.