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Monday, September 26, 2022

DATAPRO Reaffirms Total Nigeria PLC “A-“ Rating

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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 re-affirmed Total Nigeria Plc long-term rating of A- with a stable outlook for the year 2020/2021.

The A- Rating indicates Low Risk. It shows very good financial strength, operating performance and business profile when compared to the standard established by DataPro. This company, in our opinion, has the strong ability to meet its ongoing obligations.

The DataPro Rating Committee approved the rating after assessment of the Company’s Financial Performance, Earnings Profile, Liquidity, Corporate Governance & Risk Management, Risk Factors and Outlook of its current healthy profile in the medium to long-term period.

The Rating of Total Nigeria Plc is supported by its strong brand presence, expansive distribution network, experienced management team, very strong asset utilization and strong support from its parent company.

Total Nigeria Plc subsequently got a short-term rating of A2. This indicates Fair Credit Quality and adequate capacity for timely payment of financial commitments.

Please note 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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