What we do

Empowering you to make well-informed choices

1

Credit
Ratings

We are a Pan African leader in credit ratings

Agusto & Co is Nigeria’s first Credit Rating Agency and a Pan African leader in credit ratings and credit reports. Agusto & Co Ltd has assigned well over 3,000 ratings across various sectors. Our ratings are globally accepted, and a wide client base utilizes our ratings as benchmark for business. In performing the credit rating function, Agusto & Co relies on a database of information that it has built since 1992. Our ratings encompass financial institutions, corporates, funds, asset managers, health management organizations, as well as corporate and municipal debt issues. At Agusto & Co, our focus is to assign ratings that are transparent and independent for the sustainable growth of the financial market and the economy.

Our milestones

1. First credit rating agency to be registered by the Securities & Exchange Commission, Nigeria.
2. First credit rating agency in Nigeria to assign ratings to banks, discount houses and insurance companies.
3. First rating agency to assign ratings to companies on the Nigerian Stock Exchange.

Since inception, Agusto & Co has assigned over 3,000 ratings. Our Ratings cover:

2

Industry
Research

We are a leading provider of industry analysis

Agusto & Co Limited is a leading provider of industry analysis and market insights that cut across several industries in Nigeria. Annually, Agusto & Co publishes reports on several key industries of the Nigerian economy. Our reports are unbiased and contain expert analyses of various sectors in Nigeria. Over the last two decades, we have built a strong reputation for producing good quality reports, with sound economic and risk analysis. The company prides itself on the ability to create outstanding value for clients based on expert knowledge of the macroeconomic environment, the financial services industry, local markets and the key industries within the economy. Our reports can also be tailored to meet client-specific requirements. Our reports contain both primary and secondary data sourced from key industry players, combined with local market insight to provide users with the most recent business updates on a wide spectrum of industries.

We publish reports annually on over 40 industries including:

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Customized
Research

Our client-specific research enjoys strong synergies

Agusto offers tailored high-level research services to companies operating or investing in various industries across sub-Saharan Africa. Our actionable insights and analytics can drive substantial growth and sustainable profitability for businesses. Your business is facing distinct circumstances and have precise queries that demand answers.

That's why we offer a customized approach designed just for you. There's no one-size-fits-all process in our approach.

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Finance & Leasing

COMPANY RATING EXPIRY OUTLOOK COUNTRY
LECON Finance Company Limited Aa-/A1+ Jun 30 , 2027 Stable Nigeria

Corporates

COMPANY RATING EXPIRY OUTLOOK COUNTRY
MTN Nigeria Communications PLC Aaa/A1+ Jun 30 , 2027 Stable Nigeria
Layer3 Limited Bbb/A2 Jun 30 , 2027 Stable Nigeria
BUA Cement PLC Aa-/A1+ Jun 30 , 2027 Stable Nigeria
Cardinal Torch Company Limited Bbb-/A3 Jun 30 , 2027 Stable Nigeria
CIG Motors Company Limited Bbb/A2 Jun 30 , 2027 Stable Nigeria
Arco WorldWide Services Limited A/A1 Sep 30 , 2026 Stable Nigeria
Dimension Data Limited Bbb+/A2 Sep 30 , 2026 Stable Nigeria
Arco WorldWide Services Limited A/A1 Sep 30 , 2026 Stable Nigeria
Cutix PLC Bbb+ Oct 31 , 2026 Stable Nigeria

Corporate Bonds

COMPANY RATING EXPIRY OUTLOOK COUNTRY
MTN Nigeria Communications PLC’s ₦110 billion Series 1 Bond Aaa Apr 30 , 2027 Stable Nigeria
Craneburg EKSG Motorway Company PLC’s ₦32.5 Billion Bond Aaa Apr 23 , 2027 Stable Nigeria
Dimension Data SPV Funding Plc’s ₦5 billion Bond Bbb+ Apr 18 , 2027 Stable Nigeria
TSL SPV Plc’s ₦12 Billion Infrastructure Bond Aaa Oct 06 , 2026 Stable Nigeria
FMN Financing 1 PLC’s ₦4.89 Billion and ₦25 Billion Bonds A- Dec 15 , 2026 Stable Nigeria
GEL Utility Funding SPV Plc’s ₦13 Billion Bond Aaa Aug 31 , 2026 Stable Nigeria
MTN Nigeria Communications PLC's ₦10,085,600,000 and ₦104,914,400,000 Bonds Aa+ Sep 30 , 2026 Stable Nigeria
GPC-SPV Company PLC’s ₦20 Billion Bond Aaa Nov 23 , 2026 Stable Nigeria
Lagos State Government's ₦100 Billion Bond Aa Sep 30 , 2026 Stable Nigeria
MTN Nigeria Communications PLC's ₦89.99 Billion Bond Aa+ Sep 30 , 2026 Stable Nigeria
Lagos State Government's ₦38.7 Billion and ₦5.34 Billion Bonds Aa Sep 30 , 2026 Stable Nigeria
Lagos State Infrastructure Sukuk SPV Plc's ₦19.815 Billion Aa Sep 30 , 2026 Stable Nigeria
Lagos State Government's ₦137.3 Billion Bond Aa Sep 30 , 2026 Stable Nigeria
Lagos State Government's ₦115 Billion Bond and Hybrid Instruments Issuance Programme. Aa Sep 30 , 2026 Stable Nigeria
BUA Cement PLC’s ₦115 Billion Bond A+ Dec 31 , 2026 - Nigeria
UAC of Nigeria PLC's up to ₦75 billion Bond A- Nov 30 , 2026 Stable Nigeria
Geregu Power Plc's ₦40.085 Billion Bond A- Jul 28 , 2026 Stable Nigeria
Lagos State Government's Proposed ₦14.8 Billion Green Bond and Hybrid Instruments Issuance Programme Aa Sep 30 , 2026 Stable Nigeria
Lagos State Government's proposed ₦200 Billion Bond and Hybrid Instruments Issuance Programme Aa Sep 30 , 2026 Stable Nigeria
UAC of Nigeria PLC's ₦5.82 Billion Bond A- Aug 14 , 2026 Stable Nigeria
Dangote Industries Funding PLC’s ₦112.42 Billion Bond A+ Jul 19 , 2026 Negative Nigeria
Presco PLC’s ₦82.9 Billion Bond Aa Jan 31 , 2027 Stable Nigeria
CRS Funding SPV Limited’s ₦35 Billion Bond Bbb+ Dec 31 , 2026 Stable Nigeria
CRS Funding SPV Limited’s ₦22.8 Billion Bond Bbb+ Aug 05 , 2026 Stable Nigeria
Paras Energy Funding SPV PLC’s ₦15 Billion Bond A+ Oct 30 , 2026 Stable Nigeria
LFZC Funding SPV Plc’s ₦25 Billion Infrastructure Bond Aaa Mar 04 , 2027 Stable Nigeria
LFZC Funding SPV Plc’s ₦17.5 Billion Infrastructure Bond Aaa Mar 04 , 2027 Stable Nigeria
NSP-SPV PowerCorp Plc’s ₦10 Billion 15-year Series 1 Aaa Dec 31 , 2033 Stable Nigeria