GCR upgrades FCMB Asset Management to A(NG)/A1(NG), retains stable outlook

FCMBAM's liquidity position also strengthened significantly, with its liquidity sources-to-uses ratio improving to 5.0 times in December 2025 from 3.6 times a year earlier. The company's EBITDA margin also edged above 58 per cent, reflecting improved operational efficiency and profitability.