Agusto & Co Limited, a Pan African credit rating firm affirmed the “BBB” rating assigned to Nigerian inter-dealer broker, Parthian Partners Limited with a stable outlook for the year 2022/2023.
Parthian Partners was also recently assigned a ‘BBB+’ credit rating by DataPro Limited, just months after the firm successfully redeemed its debut N20 billion commercial paper quoted on the FMDQ Exchange.
“The rating reflects Parthian Partners Limited’s good capitalisation and profitability, its experienced management team, and support from owners,” Agusto & Co affirmed.
Speaking on the development, Oluseye Olusoga, Chief Executive Officer and Managing Director of Parthian Partners remarked that the rating aligns with the business standing as an industry leader with robust earnings potential, and experienced management.
“The affirmation of Parthian’s rating by Agusto & Co validates the strength of our business model and our capacity to continue to support our clients while playing our part in improving liquidity in the Nigerian markets,” he said.
Read also: Providus Bank retains “A-” rating with stable outlook
Agusto & Co Limited explained that the “Bbb” rating is indicative of Parthian Partners’ profitability and experienced management team, among other factors.
Parthian Partners Limited is Nigeria’s first interdealer broker, licensed by the Securities and Exchange Commission to provide brokerage services to market dealers and investors, including pension fund administrators, fund managers, banks, and international financial institutions. Also a member of the FMDQ Exchange, the company primarily facilitates trading in the federal government, state government, and corporate fixed income securities.
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