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.
