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Agusto & Co hereby assigns an AA(IM) rating to Stanbic IBTC Asset Management with a Stable Outlook

Rating Release

Agusto & Co hereby assigns an AA(IM) rating to Stanbic IBTC Asset Management with a Stable Outlook

The rating expires on 16 December 2021

Agusto & Co hereby assigns an AA(IM) rating to Stanbic IBTC Asset Management (‘the Manager’). The rating is upheld by the Manager’s good operational track in the asset management industry, well-composed and experienced decision-making committees, good operational risk management and membership of the Stanbic IBTC Group. We have also taken into consideration the narrow board composition with only one independent member and the growing uncertainty in the macroeconomic environment, which has the potential to elevate investment and business risks.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.