Rating agency, Agusto & Co. has announced the upgrade of the rating assigned to Family Homes Funds Limited (FHFL) from ‘’A’’ to ‘’A+’’.
The upgrade, according to the pan-African leader in credit ratings, industry research and market intelligence reflects FHFL’s strong financial position and capacity to meet its obligations, especially the delivery of affordable housing for families with the most need for it.
In its report, Agusto & Co. states that the upgrade reflects the strong support Family Homes Funds Limited receives from the Federal Government of Nigeria, which is evident from continued commitment through injection of capital in the form of grants. FHFL’s rating is also upheld by good asset quality, strong capitalization, good liquidity and funding profile and experienced management team.
Reacting, the Managing Director of Family Homes Funds Limited, Abdul Mutallab Mukhtar said, ‘’This upgrade stands as proof of our resilience and strategic abilities, and we are encouraged that our efforts are delivering positive results.
‘’At the heart of our success lies a commitment to changing lives. Our dedicated team of professionals, robust financial strategies, prudent risk management standards and our environmental, social, and governance policies are focused on this objective.
‘’For us, this is not just an upgrade, it is an affirmation of what we stand for. As we bask in this moment, we are energized to continue our journey of growth, excellence, and positive impact, and are powered by an unbounded spirit of innovation.’’
Editor’s Note
Family Homes Funds Limited (FHFL) is a Limited Liability Company with initial shareholding by the Federal Ministry of Finance Incorporated and the Nigeria Sovereign Investment Authority. The company aims to reduce Nigeria’s housing deficit by facilitating the development of affordable homes and advancing innovative paths to home ownership. In the process, the Company strives to spur the development of relevant skills, support the industry, and create jobs.
