Rating Release

Agusto & Co. upgrades the rating of Coronation Money Market Fund (‘Coronation MMF’ or ‘the Fund’) to A+(f).

The rating expires on 13 September 2022

Agusto & Co. upgrades the rating of Coronation Money Market Fund (‘Coronation MMF’ or ‘the Fund’) to A+(f). The rating reflects the Fund’s low exposure to credit, liquidity and interest rate risks during the review period (July 2020 – July 2021). We have also taken into consideration the newly introduced internal credit assessment framework for potential counterparties. However, the rating is constrained by the significant concentration in the Fund’s unitholding base, the limited capacity of the primary software for pre-trade checks and the lean risk management team.