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Wednesday, June 29, 2022

DataPro Assigns “BBB+” Rating to Mainstreet MFB Limited

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DataPro, the Technology-Driven Credit Rating Agency (CRA) has in its latest report assigned Mainstreet MFB Limited long-term rating of “BBB+” 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 standard established by DataPro.

“This Company, in our opinion, has the ability to meet its ongoing obligations, but its financial strength is vulnerable to adverse changes in economic conditions,” DataPro said in a statement.

The DataPro Rating Committee approved the Rating after assessment of the Company’s Financial Performance, Capital Adequacy, Asset Quality, Liquidity, Profitability, Risk Factors and Future Outlook of its current healthy profile in the medium to long-term period.

The Rating of Mainstreet MFB Limited is supported by the Bank’s Very Good Liquidity Position, Good Profitability and Asset Quality.

Mainstreet MFB Limited had a Short-Term Rating of “A2” which indicates Fair Credit Quality and Adequate 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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