Coronation Group Limited has recorded a significant boost to its credit profile following an upgrade by GCR Ratings, reflecting improved financial strength and operational resilience.
In a statement released on Friday, the firm confirmed that its national-scale long- and short-term issuer ratings were raised to A- and A1, respectively, from previous levels of BBB+ and A2, with a Stable Outlook assigned.
According to the company, the upgrade underscores sustained progress in capitalisation, earnings stability and balance sheet quality, reinforcing its competitive positioning within Nigeria’s financial services landscape. The improved ratings also highlight the Group’s ability to maintain consistent performance across varying market conditions.
GCR noted that the rating action is anchored on Coronation’s strengthened capital base, enhanced earnings generation and disciplined risk management framework. These improvements are supported by the Group’s diversified business model, which spans asset management, investment banking, private markets, securities trading, trusteeship and registrar services.
In its assessment, the rating agency pointed to “improved capitalisation, enhanced earnings capacity and disciplined risk management” as key factors underpinning a stronger credit profile and justifying the Stable Outlook.
The outlook, it added, reflects expectations that the Group will sustain its current financial trajectory over the medium term, driven by internal capital generation, a controlled risk appetite and continued execution of its strategic priorities.
Commenting on the development, Managing Director and Chief Executive Officer Wole Onasanya described the upgrade as validation of the company’s long-term strategy and governance framework. He noted that deliberate efforts to strengthen capital buffers, improve earnings quality and build a resilient, diversified platform have been central to the Group’s progress.
He added that the company remains committed to delivering sustainable value to clients and stakeholders, while maintaining a disciplined risk culture and positioning itself for continued growth across its core markets.
The upgrade places Coronation among the upper tier of nationally rated financial institutions, enhancing its credibility with investors, regulators and counterparties. It is also expected to improve the Group’s access to funding at more competitive terms as it continues to expand its operations.
Looking ahead, Coronation said it will focus on deepening its integrated platform by leveraging innovation, expertise and strong governance structures to sustain growth, while preserving financial strength in an evolving macroeconomic environment.