Agusto & Co Upgrades Odu’a Investment Rating to ‘A+’

Agusto & Co Upgrades Odu’a Investment Rating to ‘A+’

In a swift testament to its impressive growth and trajectory, Agusto & Co. has upgraded the rating assigned to Odu’a Investment Company Limited (OICL) from “A” to “A+” in its latest rating review.

THECONSCIENCE NG reports that the assigned Rating was based on the assessment of the financial condition of OICL as a standalone entity.

The Rating report reflects the Company’s good operating cash flow, diversified revenue sources and a funding structure currently built on internal funding sources and joint venture partnerships.

The firm reportedly has operations across various sectors of the Nigeria economy and the potential for increase in earnings through its portfolio rebalancing efforts and growth initiatives.

A statement signed by Victor Ayetoro, OICL
Head of Branding & Communication, quoted the Group Chairman, Otunba Bimbo Ashiru that “OICL will not rest on its oars but continue to walk the talk to be a world class conglomerate for the benefits of the owner States and other stakeholders. We are committed to improving the productivity of the businesses we operate while delivering significant social economic impact and sustainable return”

It said the Group Managing Director, Mr Abdulrahman Yinusa also appreciated the commitment and support of the Board, Management and staff for the incremental growth and consistent development in the right direction towards OICL’s world class conglomerate aspirations.

“The Agusto & Co Rating upgrade does not only underscore the company’s financial strength and operational excellence, it further sets a new performance benchmark in the industry.

“OICL has witnessed remarkable improvement across financial metrics, corporate governance, risks management, talent attraction and asset optimization across the Real Estate, Hospitality, Financial Services, Agriculture and Energy sectors. The drive continues!,” it added.