Rating Release

Agusto & Co. upgrades Chapel Hill Advisory Partners Limited’s long-term rating to “A+” and affirms its short-term rating at “A1”, with a stable outlook. 

The rating expires on 30 June 2027. 

Agusto & Co. hereby upgrades the long-term rating of Chapel Hill Advisory Partners Limited (“CHAPS” or “the Company”) to “A+”, while affirming its short-term rating of “A1”. The upgrade reflects the Company’s execution of its strategic initiatives, which has strengthened performance and expanded its business scale. The ratings also reflect CHAPS and its subsidiaries’ (“Chapel Hill” or “the Group”) significant market positions across Nigeria’s investment banking, insurance, pensions, and asset management sectors. Other key rating strengths include the Group’s diversified investments and product offerings, stable shareholder funding, good asset quality and good capitalisation profiles and an experienced and stable management team. However, the ratings remain constrained by Chapel Hill’s ownership concentration, and weaker liquidity profile, primarily driven by its significant investments in alternative assets during the year under review.