Coronation earns A-rating upgrade, strengthens market position

Coronation Group Limited, a leading African financial services conglomerate, has announced that GCR Ratings has upgraded its national-scale long- and short-term issuer ratings to A- and A1, respectively, from BBB+ and A2, with a Stable Outlook.

It stated in a statement on Friday that the rating action reflects sustained improvements in the Group’s capitalisation, earnings resilience, and balance sheet quality. “It also reinforces Coronation’s strong competitive position within Nigeria’s financial services sector and its ability to execute consistently across market cycles,” the firm stated.

It also noted that GCR pointed out that the upgrade is underpinned by Coronation’s strengthened capital base, improved earnings generation, and disciplined risk management, supported by a well-diversified operating model spanning asset management, investment banking, private markets, securities trading, trusteeship, and registrar business verticals.

In its commentary, GCR stated that the rating action reflects “the Group’s improved capitalisation, enhanced earnings capacity, and disciplined risk management, which collectively support a stronger credit profile and underpin the Stable Outlook.”

The Stable Outlook further reflects expectations that Coronation will maintain its current financial profile over the medium term, supported by internal capital generation, controlled risk appetite, and continued strategic execution.

Commenting on the upgrade, Managing Director/Chief Executive Officer of Coronation Group Limited, Wole Onasanya, said, “This upgrade affirms the strength of our strategy, governance, and execution discipline. It reflects the deliberate steps we have taken to strengthen our capital base, enhance earnings quality, and build a resilient, diversified financial services platform.

“We remain focused on delivering sustainable long-term value to our clients and stakeholders, while maintaining a disciplined risk culture and positioning the Group for continued growth across our core markets.”

The upgrade positions Coronation within the upper tier of nationally rated financial institutions, strengthening its standing with counterparties, investors, and regulators. It also enhances the Group’s ability to access funding markets on more competitive terms as it continues to scale its operations.

Coronation remains focused on deepening its integrated platform, leveraging innovation, expertise, and strong governance to drive sustainable growth, while maintaining financial strength and resilience in an evolving macroeconomic environment.