African Capital Alliance’s (ACA) Nigeria-based financial services technology portfolio company has received a first-time short-term rating, by Agusto & Co.
Global Accelerex has been assigned a short-term rating of A-, with a stable outlook.
The company’s rating reflects its strong financial condition evidenced by good profitability, cash flow, satisfactory working capital, and low leverage.
ACA first backed Global Accelerex in 2020, injecting $20 million into the company.
The investor structured the deal through its fourth fund, Capital Alliance Private Equity IV (CAPE IV), closed at $570 million in 2016.
Agusto & Co – we have not had this rating agency before – please explain the agency