Intelligence Africa Assigns ‘AAA.NG’ National Scale Rating To InfraCredit

Intelligence Africa Ratings has assigned InfraCredit ‘AAA.NG’ national scale long-term issuer credit rating, with a Stable Outlook.

Intelligence Africa’s assessment highlights InfraCredit’s strong standalone credit profile, supported by strong capitalisation, robust liquidity position, sound profitability, and the quality of its guarantee portfolio, with no guarantee claims recorded to date.

The rating also recognises InfraCredit’s risk-sharing partnerships with highly rated development finance institutions, which support balance-sheet resilience as the guarantee portfolio expands.

The agency further noted InfraCredit’s strong liquidity buffers and conservative balance sheet positioning, observing that capital and liquidity levels remain well above internal and regulatory thresholds. A zero-claims record since inception supports InfraCredit’s ability to manage risk as its guarantee activities grow.

The Stable Outlook reflects Intelligence Africa’s expectation that InfraCredit will maintain its current relative credit positioning within Nigeria’s financial institutions peer group over the outlook horizon, supported by sustained solvency and liquidity metrics.

InfraCredit’s ‘AAA.NG’ national scale rating reflects its strengthened institutional profile, including its publicly listed status and admission to trading on the NASD, which enhances financial flexibility; increased domestic institutional investor participation, now exceeding 40 percent of equity ownership; and operation under the Securities and Exchange Commission’s Credit Enhancement Framework, which supports improved governance, transparency, and regulatory oversight.

Established in 2017, InfraCredit provides credit guarantees for local-currency debt instruments issued to finance eligible infrastructure projects across sectors including power, transportation, logistics, gas-to-power, telecommunications, manufacturing, healthcare, renewable energy, and affordable housing. Through its guarantees, InfraCredit enhances the credit quality of infrastructure bond issuances and supports the mobilisation of long-term domestic institutional capital through Nigeria’s debt capital markets.

The Intelligence Africa rating adds to InfraCredit’s established credit track record. InfraCredit has maintained national scale ‘AAA’ ratings from Agusto & Co. and Global Credit Ratings for eight consecutive years and has also received ‘AAA(nga)’ national scale ratings from Fitch Ratings for three consecutive cycles.

Commenting on the rating,  the chief executive officer of InfraCredit, Chinua Azubike, said: “Our AAA rating reflects the strength and maturity of InfraCredit’s evolving institutional platform—marked by our transition to a listed, market-facing entity, domestic institutional ownership now exceeding 40 per cent, and the enhanced governance and transparency provided by SEC regulation under the Credit Enhancement Framework—while demonstrating how risk-sharing partnerships can reshape the pricing and mobilisation of long-term domestic capital as emerging capital markets deepen.”