Rating Release

Agusto & Co. hereby upgrades the rating assigned to Zenith Money Market Fund (“Zenith MMF” or “the Fund”) to A+(f).

The rating expires on 16 March 2027.

Agusto & Co. hereby upgrades the rating of Zenith Money Market Fund (‘Zenith MMF’ or ‘the Fund’) to ‘A+(f)’. The rating upgrade reflects the Fund’s improved asset allocation with lower exposure to securities we consider to have moderate credit risk and greater diversity in Zenith MMF’s unitholding base. The rating also reflects the Fund’s continued low exposure to credit, liquidity and interest rate risks, membership of a growing financial services group and affiliation and support from Zenith Bank Plc. However, the rating is constrained by breaches of the regulatory 90-day WAM limit that occurred on nine occasions during the review period.