In a press release on Tuesday, S&P Global Ratings described the deal as “a strategic step for both companies” that would “complement and support the growth strategy of the S&P Global Ratings division in Africa.” The financial details of the transaction were not revealed.
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S&P Global has agreed to acquire a majority stake in Agusto & Co., one of Africa’s leading indigenous credit rating agencies, in a move that deepens the US financial information company’s presence in the continent’s domestic debt markets at a time when demand for local credit assessments is growing.