Pan African credit rating firm, Agusto & Co Limited has affirmed the “Bbb” rating assigned to leading Nigerian inter-dealer broker, Parthian Partners Limited (PPL) with a stable outlook for the year 2022/2023.
Agusto & Co, in its rating note, explained that the “Bbb” rating is indicative of Parthian Partners’ profitability and experienced management team, among other factors. “The rating reflects PPL’s good capitalisation and profitability, its experienced management team and support from owners,” the rating company affirmed.
Speaking on the development, the Chief Executive Officer and Managing Director of Parthian Partners, Mr Oluseye Olusoga 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.
Parthian Partners was also recently assigned a ‘BBB+’ credit rating by DataPro Limited, just months after the firm successfully redeemed its debut N20billion commercial paper quoted on the FMDQ Exchange.
Parthian Partners Limited is Nigeria’s first interdealer broker, licensed by the Securities and Exchange Commission (SEC) 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 federal government, state government and corporate fixed income securities.