African Capital Alliance’s (ACA) Nigeria-based consumer foods manufacturing portfolio company has been assigned first-time national scale long-term and short-term issuer ratings, by GCR Ratings.
Daraju 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 a stable outlook.
This rating reflects Daraju’s established market niche and diversified product portfolio.
The stable outlook reflects GCR’s expectations that Daraju will continue to generate robust cash flows and operate profitably over the outlook period.
ACA first backed Daraju in 2018, investing an undisclosed amount into the company.
The investor structured the deal through its fourth generation fund, Capital Alliance Private Equity IV (CAPE IV), closed at $570 million in 2016.