S&P Global Buys Majority Stake in Agusto as Africa Agency Has Issued 3,000 Ratings
Updated
Updated · Business Insider Africa · Jul 28
S&P Global Buys Majority Stake in Agusto as Africa Agency Has Issued 3,000 Ratings
3 articles · Updated · Business Insider Africa · Jul 28
Summary
S&P Global agreed to buy a majority stake in Agusto & Co., with the deal due to close in the second half of 2026 pending regulatory approvals.
Agusto will keep its own methodologies and credit opinions while gaining S&P resources, extending the US group's reach into African domestic debt markets where demand for local ratings is rising.
More than 3,000 ratings have been assigned by Agusto across Nigeria, Kenya, Rwanda and Ghana over three decades, covering banks, corporates, funds and sovereign-related entities.
The transaction lands as African governments press for reforms to global sovereign ratings, saying they overstate risk and raise borrowing costs, even as S&P and Moody's reject bias claims.
S&P announced the acquisition alongside strong second-quarter results—revenue rose 10% to $4.15 billion and adjusted EPS 23% to $4.83—underscoring broader expansion in analytics and ratings.