Ratings agency Agusto & Co. has upgraded Wema Bank Funding SPV Plc’s Series II Bond to ‘Bbb+’, with a stable outlook, from the previous ‘Bbb’ score.
The Issuer is a Special Purpose Vehicle (SPV) set up by Wema Bank Plc for the issuance of debt securities.
Agusto in its latest rating assessment released on Tuesday said it upgraded the rating of Wema Bank Funding SPV Plc’s Series II ₦17.7 billion seven-year fixed rate bond to ‘Bbb+’ as a result of significant improvement on key metrics of assessment.
