• Investment firm gets ‘BBB’ rating

    Investment firm gets bbb rating - nigeria newspapers online
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    A technology-driven credit rating agency, Datapro in its latest report issued LandWey Investments Limited a long-term rating of “BBB” with a stable outlook for 2022/2023 financial period.

    Considerations for the rating assigned include the company’s revenue, profitability, capital structure, asset quality and liquidity.

    In a statement by the company issued and signed by the Client Service Personnel, Kehinde Rasheed, LandWey’s revenue lines improved over the last four  years (2018-2022).

    It said that revenue for 2022 increased by 48 per cent compared to the prior year. Earnings for the period under review was largely drawn from the sale of landed properties.

    Also, the company’s efficiency was reflected in its improved profit margin, return on shareholder’s equity and return on assets.

    The statement said, “The positive rating assigned reflects DataPro’s opinion of LandWey’s diversified revenue source, good project experience as well as it’s macroeconomic environment.

    “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.”

    According to the statement, the short-term rating of “A2” assigned indicates fair credit quality and adequate capacity for timely payment of financial commitments.

    DataPro noted that the rating carried 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,” it said.

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