DataPro, the technology-driven credit rating agency yesterday assigned MyCredit Investments Limited, long-term rating of “BBB+” with a stable outlook for the year 2021/2022.
DataPro, in a statement signed by its Client Service Manager, Mr. Kehinde Rasheed explained that the “BBB+” indicates slight risk.
This rating, according to him, shows fair financial strength, operating performance, and business profile by the standard established by DataPro.
“This company, in our opinion, can meet its ongoing obligations, but its financial strength is vulnerable to adverse changes in economic conditions,” the statement said.
It stated further that the DataPro Rating Committee approved the rating after assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, corporate governance, and risk management, risk factors, and future outlook of its current healthy profile in the medium to long-term period.
The statement said, “The rating of MyCredit Limited is supported by the company’s very good liquidity position, good profitability, and asset quality.
MyCredit Investments Limited had a short-term rating of “A2” which indicates fair credit quality and adequate capacity for timely payment of financial commitments.”