FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, has been upgraded to national scale long-term and short-term issuer ratings of A(NG) and A1(NG) from A-(NG) and A2(NG) by GCR Ratings (GCR), with the agency affirming a stable outlook.
The upgrade reflects the company’s sustained financial performance, strong market position and prudent risk management, alongside the strengthened credit profile of its parent company, FCMB Group Plc.
In its assessment, GCR said FCMBAM’s improved ratings were driven by its competitive resilience, disciplined financial management and decade-long record of consistent performance. The agency cited the firm’s established brand, diversified product offering, extensive distribution network and cross-selling opportunities within the FCMB Group as key strengths supporting its standalone credit profile.
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According to GCR, FCMBAM ranks among the top five asset managers in Nigeria, accounting for an estimated 5 per cent share of the country’s fragmented asset management market
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