Parthian Partners “Bbb” Rating Affirmed by Agusto & Co

Nume Ekeghe 

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.

Parthian Partners Limited (PPL) has maintained its ‘Bbb’ rating with a stable outlook for the 2024/2025 fiscal year, as confirmed by Pan-African credit rating agency Agusto & Co Limited

 According to the statement, by Agusto &co., “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 this development, the Chief Executive Officer and Managing Director of Parthian Partners, Mr. Oluseye Olusoga, 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.

Olusoga said: “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.”