Lagos State’s 16.5% N47 Billion Bond has been assigned “Aa-” rating by Agusto & Co

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Lagos State’s 16.5% N47 Billion Bond has been assigned “Aa-” rating by Agusto & Co

RATING RELEASE

Lagos State’s 16.5% N47 Billion Bond has been assigned “Aa-” rating by Agusto & Co.

This rating expires 31 December 2018.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.

Finance & Leasing

COMPANY	RATING	EXPIRY	OUTLOOK	COUNTRY
Credit Direct Limited	Bbb	Jun 30 , 2022	Stable	Nigeria
Citihomes Finance Company Limited	SR3	Jul 05 , 2022	N/A	Nigeria
WSTC Financial Services Limited	Bbb+	Mar 31 , 2022	Stable	Nigeria

Corporates

COMPANY	RATING	EXPIRY	OUTLOOK	COUNTRY
Axxela Limited	A-	Jun 30 , 2022	Stable	Nigeria
Kawai Technologies Limited	Bb	Jun 30 , 2022	Neutral	Nigeria

Corporate Bonds

COMPANY	RATING	EXPIRY	OUTLOOK	COUNTRY
Axxela Funding 1 Plc’s Series 1 Bond	A-	May 31 , 2022	Stable	Nigeria
Viathan Funding Plc.’s ₦10 billion 10-year Series 1 Senior Guaranteed Fixed Rate Bond Due 2027	Aaa	Dec 31 , 2027	Stable	Nigeria
NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1	Aaa	Dec 31 , 2033	Stable	Nigeria
Municipality Waste Management Contractors Limited up to ₦27 Billion Series 1 (Tranches A, B & C) Bond	Awaiting Review	--	-	Nigeria