S&P Global To Acquire Majority Stake In Agusto & Co.

S&P Global is moving to take a majority stake in Agusto & Co., the Lagos-based credit ratings agency, in a deal that would deepen its presence in Nigeria’s domestic ratings market.

Channels Television reported that S&P Global said on Tuesday that the investment would support the growth of its African business. Premium Times also reported the planned acquisition and identified Agusto & Co. as a Nigerian ratings firm.

The deal comes at a time when African governments and finance officials have continued to question how global ratings agencies assess risk on the continent. Channels reported that S&P currently depends mainly on its South African office for its Africa business.

Neither source reported the value of the deal. The article therefore does not state a transaction amount.

Sources: Channels Television, Premium Times