Coronation receives rating boost, solidifies financial sector standing
Coronation Group Limited has received an upgrade in its national-scale issuer ratings from GCR Ratings, reflecting its improved capital base and earnings resilience. The company’s diversified business model and disciplined risk management contributed to the higher ratings. Wole Onasanya, the Managing Director/Chief Executive Officer, highlighted the group’s focus on strategy and sustainable growth. The upgrade is expected to enhance Coronation’s market position and access to funding.
TLDR
- Coronation Group Limited’s long- and short-term issuer ratings were upgraded by GCR Ratings to A- and A1, up from BBB+ and A2.
- The upgrade is attributed to improved capitalisation, earnings generation, and disciplined risk management.
- The group’s diversified operations span asset management, investment banking, private markets, securities trading, trusteeship, and registrar services.
- Wole Onasanya stated that the upgrade affirms the group’s strategy, governance, and execution discipline.
- The improved rating strengthens Coronation’s position among Nigeria’s top financial institutions and enhances its ability to access funding on competitive terms.
