Prima Corporation Limited has retained a long-term rating of “A” with a positive outlook for the year 2021/2022, according to the latest report from DataPro, a technology-driven credit rating agency (CRA).
The “A” indicates low risk and shows very good financial strength, operating performance, and business profile when compared to the standard established by DataPro.
In a statement Signed by Kehinde Rasheed, DataPro’s client services manager, Prima Corporation Limited is said to have a strong ability to meet its ongoing obligations.
Read also: FMDQ Exchange admits Prima Corporation Series 1 CP on its Platform
The DataPro rating committee approved the rating after assessment of the company’s financial performance, asset quality, liquidity, profitability, corporate governance & risk management, risk factors, and future outlook of its current healthy profile in the medium to long-term period.
The tech-driven CRA said the rating of Prima Corporation Limited is supported by its strong business profile, good business support from its associate companies, and good liquidity profile.
“Prima Corporation Limited had a short-term rating of “A1” with good credit quality and satisfactory 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 judgment. It is meant for reference purposes,” the statement reads.
