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Tuesday, March 28, 2023

Data pro Assigns “BBB+” Rating to Norrenberger

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DataPro®, a leading national Credit Rating Agency (CRA) recognised and approved by the Securities & Exchange Commission (SEC), has in its latest report assigned BBB+ Rating to Norrenberger Investment and Capital Management Limited with a Stable Outlook for the year 2021/2022.

The BBB+ indicates Slight Risk. It shows Fair financial strength, operating performance and business profile when compared to the standards established by DataPro.

“This company, in our opinion, has the ability to meet its ongoing obligations, but its financial strength may be impacted adversely by changes in economic conditions,” DataPro said.

The DataPro Rating Committee approved the Rating after assessment of the Company’s Financial Performance, Corporate Governance, Risk Factors and Regulatory Environment of its current healthy profile in the medium to long-term period.

The Rating of Norrenberger Investment and Capital Management Limited is supported by the Company’s Diversified Revenue Sources, Good Governance and Experienced Management Team.

However, the Rating is constrained by the need to improve Liquidity and Capital Funding.

The company is already deploying strategic initiatives to improve these measures.

Norrenberger Investment and Capital Management Limited subsequently got a Short-Term Rating of “A1” which indicates Good Credit Quality and satisfactory capacity for timely payment of financial commitments.

DataPro notes that the Rating carries a maximum shelf life of 12 calendar months, in line with International Best Practice.

The Rating is therefore not an offer to trade in securities nor a substitute for the user’s judgement. It is meant for reference purposes.

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