Agusto & Co. hereby assigns Citihomes Finance Company Limited an “SR3” rating

Agusto & Co. hereby assigns Citihomes Finance Company Limited an “SR3” rating

Rating Release

Agusto & Co. hereby assigns Citihomes Finance Company Limited an “SR3” rating

The rating expires on 5 July 2022

Agusto & Co. hereby assigns Citihomes Finance Company Limited (“Citihomes” or “the Servicer”) an “SR3” rating. The Servicer is considered to have ADEQUATE capacity to service loans. The rating of Citihomes is supported by an experienced management team, adequate governance structure, satisfactory loan administration process and adequate collections process. The rating is, however, constrained by the Servicer’s limited history and limited servicing track record given the relatively small volume of loans serviced.

The Servicer is licensed as a finance company by the Central Bank of Nigeria (CBN). Citihomes is a wholly owned subsidiary of the DLM Capital Group (formerly the Dunn Loren Merrifield Group). The Servicer carries on finance company activities permissible under the CBN’s 2014 Revised Guidelines for Finance Companies in Nigeria including Funds Management, Programme or Conduit Management, Consumer Loans, Asset Finance and Project Finance.

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.

Finance & Leasing

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Citihomes Finance Company Limited SR3 Jul 05 , 2022 N/A Nigeria

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