The rating expires on 22 September 2022.
Agusto & Co. maintains the A-(f) rating assigned to EDC Nigeria Money Market Fund (“EDC MMF” or “the Fund”). The rating reflects improvements in the credit quality of the Fund’s portfolio holdings and low exposure to liquidity risk during the review period (September 2020 – August 2021). We have also taken into consideration the adequate internal credit assessments conducted on proposed counterparties. However, the rating is constrained by the consistent breaches of the weighted average maturity (WAM) limit of 90 days stipulated by the Securities & Exchange Commission for money market funds.
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