Agusto & Co. affirms ‘A+’ Rating To Access Bank ₦30 Billion 7-Year 15.5% Fixed Rate

Must Read

- Advertisement -

Agusto & Co. hereby affirms the “A+” rating assigned to Access Bank Plc.’s (“Access Bank”, the Issuer” or “the Bank”) ₦30 billion 7-year 15.5% Fixed Rate Subordinated Unsecured Notes (“the Issue” or “the Bond”) due in 2026.

The rating is a notch lower than Access Bank’s standalone “Aa-” rating issued by Agusto & Co. Limited. The Bond is subordinated to other senior debt of the Bank and it is adjudged to offer adequate safety of timely payment of interest and principal.

The rating assigned to the Issuer reflects its status as one of Nigeria’s largest banks, a stable and experienced management team, improving asset quality profile due to significant write-offs, and good refinancing capacity buoyed by a strong domestic franchise.

However, the rating assigned is constrained by the harsh regulatory environment, the lingering COVID-19 pandemic, and the slowly recovering macroeconomy.

- Advertisement -

Click here to see more ratings.

- Advertisement -
spot_imgspot_img

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Agusto & Co. affirms ‘A+’ Rating To Access Bank ₦30 Billion 7-Year 15.5% Fixed Rate - Brand Spur

Ascend Money Gets $150M To Become Thailand First Unicorn At $1.5B...

Ascend Money, the Thailand-based fintech startup behind TrueMoney, an e-wallet service, announced today it has raised a $150 million Series C round at a...
- Advertisement -
spot_imgspot_img

Latest News

Ascend Money Gets $150M To Become Thailand First Unicorn At $1.5B Valuation

Ascend Money, the Thailand-based fintech startup behind TrueMoney, an e-wallet service, announced today it has raised a $150 million...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -spot_imgspot_img