FCMB Asset Management Limited (FCMBAM), the asset management subsidiary of FCMB Group Plc, has received upgrades to its national scale long- and short-term issuer ratings from GCR Ratings.
The company’s long-term issuer rating was recently upgraded to A(NG) from A-(NG), while its short-term issuer rating was raised to A1(NG) from A2(NG). The ratings agency maintained a stable outlook.
According to GCR Ratings, the upgrade reflects FCMBAM’s competitive position, financial discipline and the strengthened credit profile of FCMB Group Plc.
GCR said the company’s track record, brand presence, product offerings and distribution network contributed to its standalone strength. The agency also noted that FCMBAM ranked among the top five asset managers in Nigeria, with an estimated 5% share of the country’s asset management market as of December 31, 2025.
The ratings agency said the company’s revenue increased by 30 per cent, while operating cash flow rose by 13 per cent. It added that liquidity improved, with liquidity sources relative to uses increasing to 5.0 times in December 2025 from 3.6 times a year earlier, while the EBITDA margin rose to more than 58 per cent.
Commenting on the upgrade, the chief executive officer of FCMB Asset Management, James Ilori, said the new ratings reflected the company’s long-term strategy, governance standards and financial management.
FCMB Asset Management manages several collective investment schemes, including money market, debt, equity and US dollar bond funds, as well as portfolio management services for individual and institutional investors.
