Technology-driven credit rating agency, DataPro, has upgraded the long-term credit rating of Dangote Cement Plc to AA+ from AA, citing the company’s sustained financial strength, resilient operating performance, and continued leadership in Nigeria and the African cement industry.
In its latest rating report, the agency also affirmed Dangote Cement’s short-term rating at A1 and maintained a Stable Outlook. The rating, which is valid until June 16, 2027, followed a comprehensive assessment of the company’s capitalisation, earnings quality, liquidity, corporate governance, regulatory compliance, and the sustainability of its financial performance over the medium to long term.
According to the company’s Business Development & Client Services Manager, Mr. Kehinde Rasheed, the upgrade reflects the company’s consistently strong fundamentals, underpinned by its dominant market position, widely recognised brand, robust asset base, healthy earnings profile and experienced management team. It noted that these strengths continue to reinforce the company’s ability to meet its financial obligations promptly despite prevailing macroeconomic and industry challenges.
