Rating Release
Agusto & Co. hereby assigns a “Bbb” rating to Comercio Partners Limited
The rating expires on 30 June 2023.
Agusto & Co. hereby assigns a “Bbb” rating to Comercio Partners Limited (“CPL” or “the Group”). The rating reflects CPL’s low leverage, adequate capitalisation, good liquidity and competent and experienced management team. The rating is, however, constrained by concentration in the Group’s investment portfolio, the heavy reliance on proprietary trading income, concentration in funding and the dominance of key stakeholders in the ownership and management. We have also considered the significant uncertainty in the economic environment, which has adversely affected businesses and households
CPL is a financial services group that offers asset management, securities trading and financial advisory services to high net-worth individual (HNI), institutional and retail investors. The Group, which also operates a proprietary trading desk, comprises six subsidiaries: Comercio Partners Asset Management Limited, Comercio Partners Trading Limited, Comercio Partners Capital Limited, TradeFi Tech Investment Limited, Comercio Partners Property Development Limited and a Special Purpose Vehicle.
