NMRC Credit Ratings
Credit Rating
Agusto & Co
Agusto & Co has affirmed the “Aa” rating assigned to Nigeria Mortgage Refinance Company Plc (‘NMRC’ or ‘the Company’).The rating reflects the Company’s good profitability, good asset quality, strong capitalisation for current business risks, good liquidity and experienced management team. The rating also takes into cognisance the irrevocable and unconditional guarantee of the Federal Government of Nigeria (FGN) for NMRC’s bond issuances, which has supported the strong track record in the Nigerian debt capital market”. Agusto & Co also attached a “stable” outlook to the rating.
Credit Rating
GCR
GCR Ratings (“GCR”) has revised Nigeria Mortgage Refinance Company Plc’s (“NMRC”) national scale Issuer long-term and short-term ratings to AA+(NG) and A1+(NG) from A-(NG) and A2(NG) respectively, based on criteria change. Outlook accorded as Stable.
The ratings of NMRC balances the uniqueness of operation as the only mortgage refinance company in Nigeria, the demonstrated track record of about 6years of delivering its mandate, strong capitalisation, minimal risk exposure, and the availability of government support.
