April 21, (THEWILL) — Coronation Group Limited has secured a major credit rating upgrade from GCR Ratings, with its national-scale long- and short-term issuer ratings raised to A and A1 from BBB+ and A2. The outlook remains stable.
The upgrade marks a key milestone in the Group’s credit trajectory, reflecting stronger capitalisation, improved earnings resilience, and enhanced balance sheet quality. It also underscores Coronation’s growing competitive strength within Nigeria’s financial services sector and its ability to perform consistently across market cycles.
GCR attributed the rating action to the Group’s reinforced capital base, better earnings generation, and disciplined risk management framework. The agency also highlighted Coronation’s diversified operating model, which spans asset management, investment banking, securities trading, trusteeship, and insurance.
In its report, GCR noted that improved capitalisation and earnings capacity, alongside prudent risk controls, have strengthened the Group’s overall credit profile and support the stable outlook. The outlook assumes Coronation will sustain this performance through internal capital generation, controlled risk-taking, and steady execution of its strategy.
Chief Executive Officer, Wole Onasanya, described the upgrade as a defining moment, emphasising the firm’s deliberate efforts to build a resilient and diversified platform.
The improved ratings elevate Coronation into the upper tier of nationally rated institutions, enhancing its appeal to investors and counterparties while enabling more competitive access to funding as it expands operations.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
