S&P buys majority stake in Agusto & Co

S&P Global has announced its agreement to acquire a majority stake in Agusto & Company Limited, a Nigerian-based credit rating agency. This strategic move signifies a significant push by the global ratings firm to bolster its presence within Africa's burgeoning domestic debt markets.

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The partnership is expected to improve credit transparency, expand market intelligence and support the development of local capital markets across the continent.

The acquisition brings together S&P Global Ratings' extensive international analytical expertise with Agusto & Co.'s more than 30 years of experience and deep understanding of African credit markets. The partnership is anticipated to enhance credit transparency, broaden market intelligence, and provide crucial support for the development of local capital markets throughout the continent.

Agusto & Co. currently operates across Nigeria, Kenya, Rwanda, and Ghana, offering credit ratings for a diverse range of entities including banks, corporations, insurance companies, investment firms, and sovereigns, as well as for debt instruments. Since its establishment, the company has assigned over 4,000 ratings, earning a strong reputation as one of Africa's leading domestic rating agencies.

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combining S&P Global’s global ratings expertise with Agusto & Co.’s deep understanding of African markets will strengthen domestic credit ratings, promote greater transparency and boost investor confidence across the region.

Yann Le Pallec, President of S&P Global Ratings, stated that the acquisition underscores the company's long-term commitment to Africa and its rapidly growing debt markets. He believes that merging S&P Global's worldwide ratings expertise with Agusto & Co.'s localized market knowledge will significantly strengthen domestic credit ratings, foster greater transparency, and boost investor confidence across the region. Yinka Adelekan, Managing Director of Agusto & Co., described the transaction as a "transformational milestone" for both the company and Africa's capital markets, fulfilling the vision of the firm's late founder to partner with a leading global rating agency.

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the collaboration would combine Agusto’s extensive knowledge of African markets with S&P Global Ratings’ global resources and affiliate network, creating greater value for issuers, investors and other market participants while supporting the continued growth of transparent and resilient credit markets.