Rating Release
Agusto & Co. hereby assigns a ‘Bbb(f)’ rating to GDL Money Market Fund.
The rating expires on 3 April 2020.
Agusto & Co. hereby assigns a ‘Bbb(f)’ rating to GDL Money Market Fund. The rating is predicated on the Fund’s low exposure to liquidity risk and moderate exposure to credit and interest rate risks. Given that all investments are held in fixed income securities denominated in the Naira, GDL MMF has no exposure to equity or foreign currency risk. However, we note some degree of concentration in the Fund’s obligor base and breaches of the regulatory WAM requirement.
