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Agusto & Co has upgraded its credit rating of the Nigeria Mortgage Refinance Company (NMRC) Plc from “A+” to “Aa- “.
The pan-African leader in credit ratings and credit reports said the upgrade reflects NMRC’s profitability, good asset quality, capitalization for current business risks, liquidity,
and experienced management team.
The assigned rating also factored the Federal Government of Nigeria (FGN)’s irrevocable and unconditional guarantee of NMRC’s Bond Issuance Program to the tune of N100billion
while noting the impact of Nigeria’s weak economy on the Company’s operations.
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