Agusto & Co Retains Axxela’s ‘A-’/Stable Corporate Credit Rating
Axxela Limited, sub-Saharan Africa’s leading gas and power company, has retained its “A-” corporate credit rating by Agusto & Co. for the third consecutive year.
The statement by the Pan-African Credit Rating Agency followed a successful corporate rating report, which affirmed the “A-“/Stable rating assigned to Axxela and its Series 1 Bond.
Commenting on the report, Chief Financial Officer at Axxela, Timothy Ononiwu said, “Over the past three years, Axxela has consistently maintained its ‘A-’/Stable corporate credit rating. This consecutive accomplishment once again validates our business model and reflects the excellence and fundamentals of Axxela’s commendable business operations as we expand our natural gas pipeline footprint and access to innovative energy solutions that have the potential to address rapid industrialisation and economic growth on the continent”.
He added that retaining a solid credit rating underscores the company’s robust and sound financial standing and the viability of its investments across the natural gas value chain.