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- Rating upgraded to Bbb long term and A2 short term with Stable Outlook by Agusto & Co
- Improved capitalization and funding profile through commercial paper issuances and DFI support
- Strong asset quality and an experienced management team are cited as key strengths
Fewchore Finance Company Limited has announced a rating upgrade from the leading credit rating agency Agusto and Co.
The company’s long-term rating has been raised to Bbb while its short-term rating now stands at A2. Both ratings carry a Stable Outlook, reflecting the company’s improved financial position and operational resilience.
This marks a notable improvement from its previous Bbb minus rating and underscores Fewchore Finance’s strong capitalization, consistent profit retention and enhanced funding profile. The company has successfully accessed liquidity through multiple commercial paper issuances and secured increased support from development finance institutions and retail investors.
Agusto and Co also highlighted the company’s satisfactory asset quality, citing a low non performing loan ratio relative to industry peers. Fewchore Finance’s structured transaction arrangements and experienced management team were identified as key factors supporting the upgraded ratings.
Adesunkanmi Balogun, Managing Director of Fewchore Finance, commented
“This rating upgrade reaffirms the strength of our strategy and the trust our stakeholders place in us. At Fewchore Finance we remain committed to building a resilient financial institution that supports individuals, SMEs and corporates with innovative financing solutions tailored to their needs.”
Fewchore Finance is licensed by the Central Bank of Nigeria to operate as a Finance House. The company offers a broad range of financial products including consumer loans, trade finance, invoice discounting, working capital facilities and asset financing. It has also expanded into strategic partnerships with government ministries, departments, agencies and civil service commissions to provide salary backed loans.
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