Agusto & Co, a leading Pan-African credit rating agency, has upgraded the rating of Odu’a Investment Company Ltd. (OICL) from "A" to "A+" in its latest review.
According to OICL Group Chairman, Mr. Bimbo Ashiru, the upgrade reflects the company's solid financial standing, supported by strong operating cash flow, diversified revenue streams, and reliance on internal funding and joint venture partnerships. OICL operates across multiple sectors of the Nigerian economy, with potential growth expected from its portfolio rebalancing and expansion initiatives.
“We remain committed to becoming a world-class conglomerate, enhancing productivity and delivering sustainable economic impact for our stakeholders,” Ashiru said.
Group Managing Director, Mr. Abdulrahman Yinusa, applauded the support from the board, management, and staff, stating that the rating upgrade highlights OICL's financial strength and operational excellence. He added that the company has made significant strides in corporate governance, risk management, and asset optimization across sectors including real estate, hospitality, agriculture, and energy.
This rating upgrade sets a new performance benchmark for OICL as it continues its journey towards becoming a global industry leader.
No comments:
Post a Comment