Guinness Nigeria’s long-term issuer rating has been kept at AA-(NG), with a stable outlook, by GCR Ratings.
The Nigeria-based consumer beverages producer’s rating has been affirmed on its strong gearing metrics and robust cash flows.
This rating also reflects the company’s mid-to-strong position in the Nigerian brewing and alcohol industry, with a well-diversified product offering.
Meanwhile, the rating agency has also affirmed Guinness Nigeria’s national scale short-term issuer rating at A1+(NG), with a stable outlook.
The stable outlook reflects GCR’s expectation that Guinness Nigeria will achieve renewed earnings growth, which will support its continued robust gearing and liquidity profile.