Nigerian agri company gets 1st rating

A Nigeria-based business services company focused on the agriculture space has been assigned first-time national scale long-term and short-term issuer ratings, by a rating agency.

Johnvents Industries has received a national scale long-term issuer rating of BBB-(NG) and a national scale short-term issuer rating of A3(NG), with an evolving outlook.

The company’s rating reflects its currently strong financial profile with an expectation of aggressive debt-led business expansion, modest competitive position, limited track record as well as moderate liquidity assessment.

Johnvents’ evolving outlook reflects the potential for a material change in the gearing and earnings level of the Issuer.

See full issuer profile here