Agusto & Co. hereby upgrades DLM Capital Group Limited’s credit rating to a “Bbb” with a stable outlook.

Rating Release

Agusto & Co. hereby upgrades DLM Capital Group Limited’s credit rating to a “Bbb” with a stable outlook.

 The rating expires on 30 June 2024.

Agusto & Co. hereby upgrades the rating assigned to DLM Capital Group Limited (‘DLM’ or ‘the Group’) to a “Bbb” from a “Bbb-“, on account of the improvement in credit risk and liquidity risk management. The rating also reflects DLM’s strong brand and expertise in structured credit, low leverage, acceptable profitability and competent and experienced management team. However, the rating is constrained by the concentration in ownership, significant non-earning assets and reliance on wholesale funding. We have also considered the significant uncertainty in the domestic economic environment, which has adversely affected businesses and households.