CLIENTRATING TYPERATING OUTCOME
SFS Fixed Income FundFund RatingAA(F)
SFS Capital Nig. Ltd. (Investment Manager)Corporate RatingA
Greenwich Plus Money Market FundFund RatingA(F)
ARM Trustees LimitedCorporate RatingBBB
Capital Trust Investments & Asset Mgmt. LimitedCorporate RatingBBB+
Sterling Investment Management SPV Plc.Bond RatingA
Sterling Bank PlcCorporate RatingBBB+
Ecobank Nigeria LimitedCorporate RatingA
Ecobank ENG Funding SPV Plc.Bond RatingA
STL Trustees LimitedCorporate RatingA+
Coretrust Core Value AccountFund RatingBBB(F)
Union Bank PlcCorporate RatingA
Union Bank PlcBond RatingBBB+
Anchoria Fixed Income FundFund RatingA(F)
Anchoria Money Market FundFund RatingA+(F)
Coronation MB Funding SPV Plc.Bond RatingA+
Primero BRT Securitisation SPV Plc.Bond RatingA
Skye Shelter FundFund RatingA(f)
ARM Capital Partners Ltd. (Investment Manager)Corporate RatingBBB
Coretrust Core Investment Money Market FundFund RatingBBB(F)
Providus Bank Plc.Corporate RatingBBB
Dufil Prima Foods Plc.Bond RatingA
Dufil Prima Foods Plc.Corporate RatingA
PAC Asset Management Ltd.

PACAM Money Market Fund

Fund RatingA(f)
Union Capital Markets LtdCorporate RatingA
United Capital Plc (Investment Manager)Corporate RatingA
Flour Mills of Nigeria PlcCorporate RatingA
Africa Plus Partners (Investment Manager)Corporate RatingBBB+
UCML Capitals Limited (Investment Manager)Corporate RatingA
Brains and HammersCorporate RatingBBB
Purples Receivables SPV Plc (Tranches 1 & 2)Bond RatingA , A
Structured Secured STRIP SPV Plc (Series 1 & 2)Bond RatingAAA, AAA
Ondo Bond GovernmentIssue and Issuer RatingA, BBB
Zenith Bank PlcCorporate RatingAA
Unity Bank PlcCorporate RatingBB+
NAHCO Aviation Handling Company PlcBond RatingA
Trustbanc Asset Management LimitedFund RatingA-(F)
Fortis Micro-finance Bank PlcCorporate RatingA+
UACN Property Development Company LimitedBond RatingA
Depthwize Nigeria LimitedStructured Finance RatingA+
CERPAC Receivables Funding SPV PlcStructured Finance RatingAA
United Capital Plc (Series 1 & 2)Bond RatingA, A
Guaranty Trust Bank PlcCorporate RatingAA+
BAOBAB MFB LimitedCorporate RatingBBB
Rendezvous Funding SPV PlcBond Rating (Series 1, Tranches A)AA+
Rendezvous Funding SPV PlcBond Rating (Series 1, Tranches B)A+
NOVA Merchant Bank LimitedCorporate RatingA+
NOVA Investments SPV PlcBond Rating (Series 1)A+
NOVA Investments SPV PlcBond Rating (Series 1)A
CLIENTRATING TYPERATING OUTCOME
Innoson Vehicles Manufacturing Company LimitedCorporate RatingBBB
Mixta NigeriaCorporate RatingBBB
Transport Services LimitedBond RatingAAA
FBNQUEST MB Funding SPV PlcBond RatingA
R.T Briscoe Nigeria PlcMoney Market FundA(f)
Cardinalstone Group CorporateCorporate RatingA
Total Nigeria PlcCorporate RatingA
Interswitch LimitedCorporate RatingAA
Interswitch Africa One PlcBond RatingAA
Cardinalstone Funding SPV PlcBond RatingA
Edo State(River Jamieson)Bond RatingA
Edo StateCorporate RatingBBB
Prima Corporation LimitedCorporate Rating A
Valency Agro Nigeria LimitedCorporate RatingBBB
FBNQUEST MB Funding SPV PlcBond RatingA
African Fonderies LimitedCorporate RatingA
African Steel MealCorporate RatingBBB+
Swift Networks LimitedCorporate RatingB+
Viathan Funding PlcBond RatingBBB+
FBNQuest Fund LimitedCorporate RatingA
Mutual Alliance Unit Trust FundFund RatingA(f)
Emerging Africa Asset Management LimitedFund ratingA(f)
Commercio Partners Asset ManagementFund RatingA(f)
CERPAC Receivables Funding SPV PlcSPVA+
AFEX NigeriaSPVA1-(CP)
Mecure Industries LimitedBond RatingA
Flour Mills of Nigeria PlcBond RatingA
BUA Cement PlcCorporate RatingAA
BUA Cement PlcBond RatingAA
Casafina Capital LimitedCorporate RatingBBB
Emzor Pharma Funding SPVBond RatingA
Emzor Pharmaceutical Industries LimitedCorporate RatingA
RAEDIAL FARMS LIMITEDBond RatingBBB+
RAEDIAL FARMS LIMITED(Project Star)Corporate RatingBBB
Fidelity Bank PlcBond RatingA