Rating agencies Agusto and GCR confirm the “AAA” long-term credit rating of infracredits, with a stable outlook


For the fifth consecutive year, rplacement agencies, Agusto & Co.(“Agusto”) and Global Credit Ratings (GCR) re-to affirmedthe “AAA” credit note of Infrastructure Credit Guarantee Company Limited (“InfraCredit”), specialized infrastructure credit guarantee institution backed by the Nigeria Sovereign Investment Authority, GuarantCo and InfraCo Africa (Private Infrastructure Development Group companthat’s to say), KfW Development Bank, African Finance Corporation, and African development bank, provide local currency collateral and mobilize long-term debt financeg for infrastructure in Nigeria.

In D-affirming InfraCredit AAA EvaluationGCR pointed out that the note is depended InfraCredit strong capitalization and debt position, strong liquidity profile and good quality of assets. In addition, the note is supported by inengCreditit isstrong competitive position, in terms of his delivery of the mandate and operations as currently the only infrastructure credit guarantee provider in Nigeria. Despite the harsh operating environment, GCR ratingd that InfraCredit exhibited a good growth trajectory over the review period (championing some large infrastructure projects), with portfolio size increasing from three in FY20 to eight in FY21, with several other transactions in progress during the current year. For the reporting period, InfraCredit maintained its financial strength profile score of 5.25 supported by InfraCreditit is healthy capital and themean, strong and stable funding and liquidity positions and risk management practice. The strength of the rating is also supported by InfraCreditit is ESG implementation andmonitoring, and solid risk profile highlighted by its strict underwriting criteria.

Assignment the highest credit rating on InfraCredit, augustrepeated that note acknowledges capital, technology and governance support provided by InfraCreditit is equity and debt sponsors in addition to InfraCredit’s developmental role and strategic importance in bridging the Nigeria’s Infrastructure Deficit. Also, Agusto indicated that the note reflects the good quality of InfraCredit guarantees and investment portfolio supported by an acceptable risk management framework, good prosuitability during the exam year and an experienced management team.” Rating Confirmation reinvigorates the quality of InfraCredit guarantee portfolio backed by a void warranty from start to date (based on rigorous risk acceptance criteria and proactive monitoring) and strong and increasing capital base with adequate safety cushions to support ensure portfolio growth. Agusto also awarded an ESG score of “2” at InfaCredit, which means that environmental, social and governance issues have minimal impact on InfraCreditit is credit risk.

Speaking on the odds results, InfraCredit Managing Director/CEO, Chinua Azubike said:the simultaneous affirmation of InfraCredit’s “AAA” rating, with a stable outlook, by Agusto and GCR for the fifth consecutive year demonstrates the positive reflection of our unique strategy, a strong management team, a strong balance sheet by our capital providers, a solid quality of our guarantees and a solid risk management practice with zero payment defaults to date. Equally significant is the positive recognition of InfraCredit’s growing ESG impact by rating agencies. Despite the challenging operating environment supported by macroeconomic headwinds, we will continue to preserve our strong fundamentals and profitability while executing our growth strategy through strategic collaborations, risk-sharing partnerships and product innovation. while continuing to catalyze domestic credit to the private sector for infrastructure development. in Nigeria that will create jobs, reduce poverty, promote the inclusion of women, protect the environment and stimulate local economic growth”.

About InfraCredit

InfraCredit is a specialist “AAA” rated infrastructure credit guarantee institution backed by the Nigeria Sovereign Investment Authority, GuarantCo and InfraCo Africa (Private Infrastructure Development Group companthat’s to say), KfW Development Bank, African Finance Corporation and African development bank providing local currency guarantees and mobilizing long-term debt financing for infrastructure in Nigeria. InfraCredit’s guarantees act as a catalyst to attract domestic credit from pension funds, insurance companies and other long-term investors into creditworthy infrastructure projects, thereby deepening Nigeria’s debt capital markets. . InfraCredit operates on a commercial basis with a development role and benefits from private sector governance.

InfraCredit maintains the highest national financial strength ratings given to all financial institutions by Agusto & Co. and Global Credit Ratings Co., two of the nation’s leading credit rating agencies.

For more information please visit www.infracredit.ng


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