DPI company keeps rating

Development Partners International’s (DPI) Botswana-based financial services portfolio company’s corporate family rating has been kept at Ba2 by Moody’s Investor Service.

The rating agency has affirmed Letshego Holdings on expected resilience of its capital and profitability.

Meanwhile, the rating agency has also kept Letshego’s outlook at stable on expectations that the company’s credit profile will remain consistent with the current rating.

Moody’s is also confident that the company’s transformation strategy will not significantly increase its risk profile over the next 12-18 months.

DPI first backed Letshego in 2010, injecting an undisclosed amount into the company – structuring the deal through its African Development Partners (ADP) I, an approximately $400 million (€270 million) vehicle closed in 2009.

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