DataPro the Technology-Driven Credit Rating Agency (CRA) has assigned MyCredit Investments Limited a long-term rating of “BBB+” with a stable outlook for the year 2021/2022, indicating a slight risk, fair financial strength, operating performance, and business profile, based on the standard established by DataPro.
In its latest report, DataPro said MyCredit Investment, in its opinion, “has the ability to meet its ongoing obligations, but its financial strength is vulnerable to adverse changes in economic conditions.”
The DataPro Rating Committee, the statement continued, approved the rating “after assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, corporate governance and risk management, risk factors and future outlook of its current healthy profile in the medium to long-term period.”
The rating of MyCredit Investments, it stressed further, “is supported by the company’s very good liquidity position, good profitability, and asset quality.
“MyCredit Investments Limited had a Short-Term Rating of “A2” which indicates Fair Credit Quality and Adequate Capacity for timely payment of financial commitments,” DataPro stressed, noting that the Rating carries a maximum shelf life of 12 calendar months, in line with International Best Practice. The Rating is therefore not an offer to trade in securities nor a substitute for the user’s judgement. It is meant for reference purposes.
