Agusto, GCR affirm Axxela’s financial, strategic outlook

Axxela Limited has announced that its credit rating recently received an upgrade from two leading credit rating agencies, Agusto& Co and Global Credit Ratings (GCR).

This recent affirmation is a testament to Axxela’s good financial performance and sustained market leadership.

Agusto& Co upgraded Axxela’s credit rating from ‘A-‘ to ‘A’, with a stable outlook. This upward revision indicates Axxela’s strong financial trajectory, consistent operational enhancements, and robust market positioning. The stable outlook underscores the agency’s confidence in Axxela’s continued ability to sustain this upgraded rating over time.

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Similarly, GCR maintained the ‘A-‘ rating for Axxela Limited with an improved outlook from stable to positive. This update reflects GCR’s recognition of Axxela’s strong credit profile, operational efficiency, and favourable prospects.

Commenting on the ratings, Timothy Ononiwu, the chief financial officer of Axxela, said: “These recent upgrades and outlook are a direct affirmation of Axxela’s continuous focus on strategic and operational excellence.

These independent ratings attest to our commitment to delivering consistent value to our stakeholders while staying true to our pursuit to drive sustainable growth within the highest standards of financial prudence and corporate governance.”