Verod Capital Management’s Nigeria-based healthcare products manufacturing and distribution portfolio company’s national scale long and short-term issuer ratings have been affirmed, with a stable outlook, by a rating agency.
Emzor Pharmaceutical Industries’ long-term rating has been affirmed at A-(NG), while the short-term rating has been kept at A2(NG).
The rating reflects Emzor’s strong competitive position as a leading manufacturer within the Nigerian pharmaceutical industry and sound earnings.
Emzor’s stable outlook reflects the rating agency’s expectation that Emzor’s recognised brands will continue to underpin strong earnings, which is supportive of the Group’s relatively strong credit profile through the expansionary capex phase.
Verod first backed Emzor in 2020, injecting an undisclosed amount into the company.