- Intelligence Africa Ratings has assigned InfraCredit a‘AAA.NG’ national scale longterm issuer ratingwith a Stable Outlook, citing its strong capitalisation, robust liquidity, sound profitability, and a zeroclaims guarantee record since inception.
- The rating reflects InfraCredit’s strengthened institutional profile, supported by its public listing on NASD, increasing domestic institutional investor participation (over 40% equity ownership), and its operation under the SEC’s Credit Enhancement Framework, which enhances governance and transparency.
- This rating adds to InfraCredit’s track record of maintaining ‘AAA’ national ratings from Agusto & Co., GCR, and Fitch, reaffirming its role in mobilising longterm localcurrency capital for infrastructure across key sectors including power, transportation, logistics, gas-to-power, telecoms, healthcare, and renewable energy.
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, Chinua Azubike, Chief Executive Officer of InfraCredit, 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%, 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.”
InfraCredit (www.infracredit.ng ) was established in 2017 as a first-of-its-kind ‘AAA’(NG) rated specialised local currency infrastructure credit guarantee institution, created to support long-term local currency infrastructure financing in Nigeria.
InfraCredit’s guarantees enhance the credit quality of local currency debt instruments issued to finance eligible infrastructure-related assets. Its guarantees serve as a catalyst to attract long-term domestic institutional capital from pension funds, insurance firms, and other investors, thereby deepening Nigeria’s debt capital markets. InfraCredit’s investors include the Nigeria Sovereign Investment Authority, KfW Development Bank, Africa Finance Corporation, and African Development Bank, alongside domestic pension funds and insurance firms.
As of April 2025, InfraCredit was listed as a public company and admitted to trading on the NASD. It maintains the highest domestic financial strength ratings accorded to any financial institution by Agusto & Co., Global Credit Ratings, and international rating agency, Fitch Ratings.
