Chrisland gets 1st rating

Chrisland Schools has been assigned first-time national scale long-term and short-term issuer ratings, by a rating agency.

The Nigeria-based education provider has received a national scale long-term issuer rating of A-(NG) and a national scale short-term issuer rating of A2(NG), with a stable outlook.

Chrisland’s rating reflects the resilience of the Nigerian private education sector, against Chrisland’s moderately diversified portfolio of schools and steady progression of student enrolments.

The company’s stable outlook reflects the rating agency’s expectation that the ongoing expansion plans will be supportive of earnings growth over the medium term, which will support comfortable debt service metrics, even if gross debt increases.

See issuer profile here