Rating Release
Agusto & Co. upgrades the rating assigned to TAJBank Limited to “Bbb+”, with a stable outlook
The rating expires on 30 June 2024.
Agusto & Co. hereby upgrade the credit rating of TAJBank Limited (“TAJBank” or “the Bank”) to “Bbb+” and assigns a ‘3’ environmental, social and governance (ESG) contribution score. The credit rating reflects the Bank’s adequate capitalisation backed by well-demonstrated shareholders’ support, good profitability and liquidity profile. However, constraining these positive rating factors are the limited operating history and obligor concentration in the financing book amid the prevailing macroeconomic headwinds. The ESG score reflects the material contribution of environmental, social and governance issues to the assigned rating.