Parthian Partners Limited (PPL) has once again had its ‘Bbb’ rating affirmed with a stable outlook for the year 2024/2025.
This reaffirmation was announced by the pan-African credit rating firm Agusto & Co Limited in a recent statement.
According to the statement, “The rating reflects PPL’s good profitability, acceptable asset quality, and competent management team that has begun to implement the plan to transition to a full-service investment banking group.
“However, the rating is constrained by higher funding costs due to the current elevated interest rate environment and the cyclical nature of the inter-dealer broker (IDB) business, which is volume-driven. Additionally, the eroding business landscape for IDBs globally and in Nigeria also constrains the rating.”
Speaking on the development, Oluseye Olusoga, chief executive officer and managing director of Parthian Partners, expressed satisfaction with the rating, which aligns with the company’s current expansion drive, robust earnings potential, and wealth of experience of the management team.
According to Olusoga, “The affirmation of Parthian’s rating by Agusto & Co lends credence to the effectiveness of our business strategy and our capacity to continue playing our part in improving liquidity in African markets.”
“The attainment of both Issuing House and Asset Management licenses facilitates our transition into a full-fledged investment bank, thereby expanding our ability to support clients comprehensively,” he said.
Parthian Partners Limited is a financial services group with expertise in fixed income, structured finance, equity markets, and M&A advisory. Licensed by the Securities and Exchange Commission (SEC) since 2012, Parthian Partners is Nigeria’s first inter-dealer broker and a member of the FMDQ Securities Exchange. Since 2013, the firm has facilitated over N5 trillion in FGN bonds and treasury bill trades, along with more than $1.2 billion in Eurobond transactions.
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