Nigeria / Pan-African
Agusto & Co and S&P Global conclude transaction combining pan-African and international ratings capability
A transaction was concluded bringing together the pan-African market expertise of Nigerian ratings agency Agusto & Co with S&P Global's international analytical infrastructure, announced in the week to 29 July. The combination positions the entity at the intersection of domestic African credit assessment — where Agusto has operated as one of the continent's longest-established indigenous agencies — and the methodological frameworks that international institutional investors require for mandate compliance. The timing is notable given the confirmed October launch of the APRM's Africa Credit Rating Agency: the continent is simultaneously pursuing an indigenous public-sector ratings institution and a private-sector consolidation with a global incumbent. For issuers, the practical consequence is a broader menu of ratings routes to market, though the divergent incentives of the two models will take several credit cycles to resolve.
