Flour Mills Of Nigeria Gets “A” DataPro Rating

DataPro, the Technology-Driven Credit Rating Agency (CRA), at the weekend announced a long-term rating of “A” with a Positive Outlook on Flour Mills Of Nigeria Plc for the year 2021/2022.

In its latest report, DataPro said “the “A” indicates Low Risk. It shows Very Good Financial Strength, Operating Performance and Business Profile,” when compared to its established standard.

“This Company, in our opinion, has a strong ability to meet its ongoing obligation,” the statement by Kehinde Rasheed, DataPro’s Client Services Manager added, stressing that the rating followed an assessment of standard Flour Mills’ “Financial Performance, Corporate Governance & Risk Management, Regulatory Environment, and Future Outlook… current healthy profile in the medium to longterm period.”

The rating of Flour Mills of Nigeria Plc, Rasheed continued, “is supported by its Strong Brand Presence, Experienced Management Team, and Diversified Income Sources.

Flour Mills of Nigeria Plc had a Short-Term Rating of “A1” which indicates Good Credit Quality and satisfactory capacity for timely payment of financial commitments, DataPro noted, adding that rating carries a maximum shelf life of 12 calendar months, in line with International Best Practice.