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Rating firm Agusto & Co. has upgraded the rating assigned to Odu’a Investment Company Limited from “A” to “A+”.
The rating was contained in its latest rating review.
A statement from Odu’a on Thursday indicated that the assigned Rating was based on the assessment of the financial condition of OICL as a stand-alone entity.
It stated that the report reflected its good operating cash flow, diversified revenue sources and a funding structure currently built on internal funding sources and joint venture partnerships.
Commenting on the rating, the Group Chairman of Odu’a, Bimbo Ashiru, said, “OICL will not rest on its oars but continue to walk the talk to be a world-class conglomerate for the benefits of the owner states and other stakeholders.
We are committed to improving the productivity of the businesses we operate while delivering significant social economic impact and sustainable return.”
The firm’s Group Managing Director, Mr Abdulrahman Yinusa, appreciated the commitment and support of the board, management and staff for the incremental growth and consistent development in the right direction towards OICL’s world-class conglomerate aspirations.
According to him, the Agusto & Co Rating upgrade not only underscores the company’s financial strength and operational excellence, it further sets a new performance benchmark in the industry.
OICL has witnessed remarkable improvement across financial metrics, corporate governance, risk management, talent attraction and asset optimization across the real estate, hospitality, financial services, agriculture and energy sectors.
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