Agusto & Co. assigns “Aa” rating and a stable outlook to Interswitch Limited.
This rating expires 30 September 2020.
Agusto & Co. hereby affirms the “Aa” rating assigned to Interswitch Limited (“Interswitch” or “the Company”). The assigned rating reflects our opinion on Interswitch’s very strong financial condition and very strong capacity to meet obligations in a timely manner evidenced by very good profitability, good and sustainable cash flow, adequate working capital and low leverage. The assigned rating also takes into cognisance Interswitch Group’s leadership position in the Financial Technology (FinTech) Industry in Nigeria as well as its stable, experienced and qualified management team. Also supporting the rating is Interswitch’s growing customer base that provides it with scale.
Interswitch Limited is one of the leading operators in the FinTech Industry in Nigeria and has grown to become a fully integrated digital payment and commerce company operating in five countries in Africa. The Company has nine subsidiaries and two associate firms, which together constitutes the Interswitch Group (“The Group”). The Group is principally engaged in building technology infrastructure and platforms in a bid to deliver a wide spectrum of electronic and digital payment services in Africa.
The opinions expressed in this rating release do not represent investment or other advice and should therefore not be construed as such. Visit www.agusto.com for further information.
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This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.