Agusto Assigns “Bbb” Rating to Comercio Partners
Agusto & Co, a foremost rating agency, has assigned a “Bbb” rating to Comercio Partners Limited, CPL.
In a statement announcing the rating, Augusto said: “The rating reflects CPL’s low leverage, adequate capitalisation, good liquidity and competent and experienced management team.”
It added that, “The rating is, however, constrained by concentration in the Group’s investment portfolio, the heavy reliance on proprietary trading income, concentration in funding and the dominance of key stakeholders in the ownership and management. We have also considered the significant uncertainty in the economic environment, which has adversely affected businesses and households.
“CPL is a financial services group that offers asset management, securities trading and financial advisory services to high net-worth individuals (HNI), institutional and retail investors. The Group, which also operates a proprietary trading desk, comprises six subsidiaries: Comercio Partners Asset Management Limited, Comercio Partners Trading Limited, Comercio Partners Capital Limited, TradeFi Tech Investment Limited, Comercio Partners Property Development Limited and a Special Purpose Vehicle.”
Commenting, Co-Managing Partner, Comercio Partners, Stephen Osho, said: “The recent Bbb rating assigned to Comercio Partners Limited by Agusto & Co is a testament to the commitment of the management and staff of the firm to the highest standards of service.
“We have consistently improved our processes, responsibly and consciously focusing on our drive to meeting the set tasks of empowering minds in Africa and enhancing returns to our numerous shareholders.
“We understand the huge task of striving to stay on top and continuously implementing strategies to meet the desire and aspirations of our clients through innovation of quality products and services in our unique style.”
Similarly, Co Founding Partner/Executive Director, Trading Division, Nnamdi Nwizu said, “It is a testament to the hard work, dedication and processes set in place by the organization.
“At Comercio Partners, we ensure that we breathe and live our core values which are, Knowledge, Innovation, Integrity and Excellence. All key ingredients to that ensure that we continue to serve our clients responsibly.
“Whilst this rating puts a lot of responsibility on the firm, we aim and strive to improve, which we are sure will be reflected in future ratings. A big thank you to all our staff and clients who made this possible.”