Intelligence Africa Ratings has assigned a first-time AAA.NG national scale long-term issuer credit rating to Nigeria’s Infrastructure Credit Guarantee Company (InfraCredit), citing strong standalone credit fundamentals and stable operating prospects.
The rating is underpinned by a Standalone Credit Score of 9.2, reflecting InfraCredit’s capital strength, risk management framework and its role in supporting domestic infrastructure financing, the ratings agency said in a statement.
Intelligence Africa assigned a Stable Outlook, indicating expectations that InfraCredit will maintain its current relative credit position within Nigeria’s financial institutions peer group over the rating horizon.
InfraCredit provides credit guarantees to enhance the credit quality of local-currency infrastructure debt, helping attract long-term institutional investors such as pension funds and insurers to the sector.
“The Stable Outlook reflects our expectation that InfraCredit will continue to operate with strong capital buffers and conservative risk management, while benefiting from its strategic importance to Nigeria’s infrastructure development agenda,” the agency said.
Muyiwa Jesuro, analytical manager at Intelligence Africa Ratings, discussed the rating decision in an interview with CNBC Africa, highlighting InfraCredit’s growing role in deepening Nigeria’s domestic capital markets.
