FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, receives upgraded national scale ratings from GCR Ratings (GCR). According to reports, GCR raises FCMBAM’s national long-term issuer rating to A(NG) from A-(NG) and its national short-term issuer rating to A1(NG) from A2(NG). GCR also affirms a stable outlook for the ratings.
The outlets attribute the upgrade to FCMBAM’s continued financial performance, including earnings growth, and its ability to maintain disciplined liquidity. The reporting also links the rating decision to the firm’s position in the market, describing it as a market leader within its sector.
The upgrades are presented as reflecting improvements and resilience in the asset manager’s operating metrics and risk profile. Both sources frame the change as an assessment of creditworthiness on Nigeria’s national scale by the pan-African credit rating agency GCR.
