When you request for a loan, your credit rating plays a huge role on whether your request will be granted or not. The ratings are calculated by credit rating agencies and several factors are put into consideration.
They look at your income flow and credit lines to figure out if you have the ability to pay the particular loan amount. These agencies don’t only function for loans, their services are required for government bonds, stock, corporate bonds, etc.
There are not many credit agencies in Nigeria. In fact, there are just 3 credit rating agencies that are licensed by the Securities and Exchange Commission (SEC). They are;
Agusto and Co.
This company is the first credit rating agency in Nigeria. They offer their services also in other countries and have been in operations since 1992. The ratings they generate are globally accepted and they have issued more than 1500 ratings for various industries.
Aside from being the first credit rating agency to be licensed by the SEC, Agusto and Co. is also the first credit agency to assign ratings to insurance companies, discount houses, and banks in Nigeria. It is also the first credit rating agency to assign ratings to firms and companies in the Nigerian stock exchange.
They are located at UBA House, 5th Floor, 57 Marina, Lagos. You can contact them by phone using +234 1 2707222-4 or 7615985, and you can contact them by email via [email protected]
Datapro Limited has been offering credit rating services for over 10 years and have built a sound professional and ethical reputation in the industry.
The companies consider qualitative and quantitative factors in calculating ratings. Ratings issued by Datapro are valid for up to a year from the issue date. That’s, however, the maximum so in some cases, it could be lesser.
You can present Datapro credit ratings anywhere in the world and they’ll be acknowledged. Furthermore, Datapro Limited has relatively affordable rates.
Aside from credit rating Datapro also offers enhanced due diligence, compliance solutions, and data protection services.
The company is located at 6th Floor, Ashakun House, 13/15 Lake Street, Off Broad Street Akpongbon, Lagos. You can contact them by phone using ++234 8055416135 or +234 8033091467.
Global Credit Rating
As the name describes, this is a global credit rating agency with a subdivision in Nigeria. The company, along with its international affiliates provide ratings for more than 3000 debt issues and organizations. Their clients are spread accords 4 continents.
Global Credit Rating focuses on rating financial institutions including banks, insurance, assurance, healthcare, reinsurance, and other non-bank financial institutions. They also altar industrial borrowers, corporate borrowers, public sector debt, corporate sector debt, etc.
Some top clients rated by the company include Transcorp Hotels Plc, Nigerian Reinsurance Corporation, Gombe State Government of Nigeria, and Plateau State Government of Nigeria.
They are located at New Africa House, 8th Floor
Marina, Lagos and can be contacted by telephone via +234 8056158393 or +234 8033283027.