Nigerian national credit rating agency- DataPro Limited at the weekend reaffirmed its “AA” long-term rating with a stable outlook for the year 2021/2022 of Interswitch Limited.

The rating, the company said in its latest report indicates lower risk, besides being evidence of its excellent financial strength, operating performance, and business profile when compared to the standard set by DataPro.

Abimbola Adeseyoju, managing director/chief executive of DataPro said in a statement that “this company, in our opinion, has a strong ability to meet its ongoing obligations.”

Continuing, he said “the DataPro Rating Committee approved the rating after assessment of the company’s financial performance, earnings profile, capitalisation, asset utility, liquidity, profitability, corporate governance & risk management, risk factors of its current healthy profile in the medium to long-term period.

“The rating of Interswitch Limited is supported by its experienced management team, good brand presence, diversified revenue sources, and very good liquidity,” while noting such constraints as its high operating cost and weak profitability.

He added that Interswitch Limited was assigned a short-term rating of A1, which indicates good credit quality and satisfactory capacity for timely payment of financial commitments.

It noted that the rating carries a maximum shelf life of 12 calendar months, in line with international best practice, besides not being an offer to trade in securities nor a substitute for the user’s judgement. It is meant for reference purposes.