DataPro assigns BBB+ credit rating to Fast Credit

Fast Credit Limited, one of Nigeria’s financial institutions has earned a long-term investment grade rating of “BBB+” from DataPro with a positive outlook for the year 2022/2023.

According to DataPro, the investment grade rating reflects the company’s good profitability, adequate capitalization, competent and experienced management team, and an array of innovative products.

Findings showed DataPro rating committee approved the rating after an assessment of the company’s financial performance, corporate governance & risk management, regulatory environment, risk factors, and outlook of its current healthy profile in the medium to long-term period.

It also shows Fast Credit has a very strong credit profile, ample liquidity, and minimal default risk.

“Fast Credit is delighted at the credit rating from DataPro which resulted in an investment grade rating of BBB+,” Emeka Iloelunachi, the Managing Director and CEO said.

He noted that the company’s key strengths were taken into consideration and DataPro placed emphasis on our strong profitability, good capitalization, experienced management team, asset quality and a variety of innovative products.

“We at FCL, are excited at the second credit rating from an esteem rating agency, which is a next step towards other strategic initiatives that will continue to provide the company with a competitive advantage,” Iloelunachi said.

He explained that the company provides assorted and innovative types of credit products such as payroll lending, consumer products, SME, and corporate lending products to private and public sector employees and entities.

“The Company also provides high-yielding investment products and target savings to individuals and institutional investors,” Iloelunachi added.

Fast Credit commenced its operations in August 2014, offering various investment and loan products to both public and private sector employees and Small and Medium Sized enterprises. Over the years, Fast Credit has significantly evolved with the main priority being the provision of exceptional services to its customers.