DPI company gets 1st rating

Development Partners International’s (DPI) Namibia-based financial services portfolio company has been assigned first-time national scale long-term and short-term issuer ratings, by GCR Ratings.

Letshego Holdings Namibia has received a national scale long-term issuer rating of A(NA), and a national scale short-term issuer rating of A1(NA), with a stable outlook.

The rating reflects Letshego Holdings Namibia’s strong credit profile, good levels of liquidity and capitalisation.

DPI is invested in Letshego Holdings Namibia through its Botswana-based parent company, Letshego Holdings.

The investor first backed Letshego in 2010, injecting an undisclosed amount into the company.

DPI structured the deal through its African Development Partners (ADP) I, an approximately $400 million (€270 million) vehicle closed in 2009.

See issuer profile here