Agusto & Co. upgrades Access Bank Plc.’s rating to ‘Aa’, assigns an ESG score of 2 and a stable outlook.
The rating expires on 30 June 2023.
Agusto & Co. has upgraded Access Bank Plc.’s (‘Access Bank’ or ‘the Bank’) credit rating to “Aa” and assigned an ESG score of ‘2’ which denotes that environment, social and governance issues have minimal impact on the Bank’s credit risk. The rating reflects Access Bank’s status as Nigeria’s largest bank by total assets and contingents, which has upheld a strong refinancing capacity across the local and international debt capital markets. In addition, our assigned rating reflects Access Bank’s good asset quality metrics, good capitalisation and liquidity profile together with a stable and experienced management team. However, the rating is constrained by the impact of the weak economic recovery and the adverse regulatory changes.