Agusto & Co. hereby upgrades Fast Credit Finance Company Limited’s ratings to “Bbb+” (long-term) and “A2” (short-term), with a stable outlook. 

Rating Release

Agusto & Co. hereby upgrades Fast Credit Finance Company Limited’s ratings to “Bbb+” (long-term) and “A2” (short-term), with a stable outlook. 

The rating expires on 30 June 2026. 

Agusto & Co. hereby upgrades Fast Credit Finance Company Limited’s (“Fast Credit”, “FCFCL” or “the Company”) ratings to “Bbb+” (long-term) and “A2” (short-term). The upgrade is backed by FCFCL’s enhanced capitalisation profile, improved loan loss provisioning, and strengthened funding base. The ratings also reflect Fast Credit’s good profitability and liquidity profiles, as well as its payroll-deductible loan book that primarily comprises exposure to employees of Ministries, Departments, and Agencies (MDAs) of the Federal Government of Nigeria. However, the rating is constrained by the Company’s reliance on costly wholesale funds, exposure to payment delays and bureaucratic bottlenecks, as well as high repricing risk in an elevated interest rate environment.