Coronation Group Limited, a major financial services firm in Africa, has announced that GCR Ratings has upgraded its national-scale long-term and short-term issuer ratings to A- and A1 from BBB+ and A2, maintaining a Stable Outlook.
According to the Group, the upgrade follows steady improvements in its capital strength, more resilient earnings performance, and higher-quality balance sheet structure. It also highlights Coronation’s solid competitive position within Nigeria’s financial services industry and its consistent execution across different market conditions.
The rating agency noted that the upgrade is supported by the company’s stronger capital base, improved ability to generate earnings, and disciplined approach to risk management. These strengths are backed by a diversified business model covering asset management, investment banking, private markets, securities trading, trusteeship, and registrar services.
GCR further stated that the improved credit profile reflects the Group’s enhanced financial stability and operational discipline, which support the Stable Outlook assigned to the company.
The Stable Outlook indicates expectations that Coronation will sustain its current financial performance over the medium term, supported by internal capital growth, controlled risk exposure, and continued strategic focus.
Reacting to the development, the Managing Director and Chief Executive Officer of Coronation Group Limited, Wole Onasanya, said the upgrade confirms the strength of the company’s strategy, governance structure, and execution discipline. He added that the Group has taken deliberate steps to strengthen its capital base, improve earnings quality, and build a diversified and resilient financial services platform.
He also reaffirmed the company’s commitment to delivering long-term value to clients and stakeholders while maintaining strong risk discipline and positioning the Group for continued growth across its key markets.
The upgrade places Coronation among the top-tier nationally rated financial institutions, enhancing its reputation with investors, regulators, and business partners, while also improving its access to funding on more favourable terms.
Coronation Group says it will continue to expand its integrated financial services platform, leveraging innovation, expertise, and strong governance to support sustainable growth in a changing economic environment.
