Mortgage Institutions rating

Mortgage lending in Nigeria has received renewed interest, with new investment in mortgage businesses, acquisitions and the resuscitation of formerly ailing Primary Mortgage Institutions (PMIs). Given continued economic growth and the growing significance of the middle class, mortgage lending is expected to be an area of growth going forward.

Agusto & Co. currently provides short term Issuer ratings of PMIs on a solicited basis. An Agusto & Co. PMI Rating is an assessment of the financial condition of the PMI and its capacity to meet its obligations -in local currency, as at when due.
We employ a top down approach that begins with Macroeconomic Analysis, in which we center on macroeconomic & political trends over the most recent five year period and the current state of the economy to ascertain how key variables impact the mortgage lending sub sector.

Our Industry analysis, which includes a review of the competitive landscape, regulation and structure of the mortgage sub sector, helps determine the degree of business risk faced by the PMI, establish overall trends and thus facilitate a company to industry comparison.