DataPro Assigns 'A' Rating to Flour Mills of Nigeria Plc


Friday, October 22, 2021 / 02:45 PM / DataPro / Header Image Credit: Flour Mills of Nigeria

DataPro, the Technology-Driven Credit Rating Agency (CRA) has in its latest report assigns Flour Mills of Nigeria Plc long-term rating of "A" with a Positive Outlook for the year 2021/2022.

The "A" indicates Low Risk. It shows Very Good Financial Strength, Operating Performance and Business Profile when compared to the standard established by DataPro. This Company, in our opinion, has a strong ability to meet its ongoing obligations.

The DataPro Rating Committee approved the Rating after assessment of the Company's Financial Performance, Corporate Governance & Risk Management, Regulatory Environment, and Future Outlook of its current healthy profile in the medium to long term period.

The Rating of Flour Mills of Nigeria Plc is supported by its Strong Brand Presence, Experienced Management Team, and Diversified Income Sources.

Flour Mills of Nigeria Plc had a Short-Term Rating of "A1" which indicates 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 judgement. It is meant for reference purposes.

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Proshare Nigeria Pvt. Ltd.

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