Rating agency and Data Protection Compliance Organisation (DPCO), DataPro says it has suspended Tingo Mobile’s Credit Rating due to the company’s inability to provide required additional information to sustain the rating assigned on Wednesday, May 17, 2023.
In a statement, the rating agency said the suspension was done in line with International best practices.
The statement said that in the past one-week, DataPro has engaged with Tingo Mobile to get clarity about its recent acquisitions and financial structure.
The statement read in part, “Unfortunately, the Company has not taken advantage of the timeline for it to provide needed information that will enable us to sustain the Rating assigned. This statement is given without prejudice or malice, it is a standard rating procedure globally.”