By Adewale Sanyaolu
Eunisell Limited, a specialty chemical and engineering solutions firm in Africa, has maintained its national scale long and short-term ratings of BBB(NG) and A3(NG) respectively with a stable outlook for year 2021/2022. The firm’s sound credit rating is cointained in a fresh report by Global Credit Ratings (GCR), an international agency which assigned similar credit status to Eunisell for the year 2021.
The company has sustained its good standing despite the impact of Covid-19, global logistics disruptions and other challenges in the operating business environment during the year.
According to the GCR Report, the ratings indicated slight risk, showing good financial strength, operating performance and business profile when compared to the standards established by the rating agency.
It added that Eunisell rating “balances a strong niche market position, sound revenue trajectory and the substantial liquidity coverage while it reported firmer operating profit in recent years, underpinned by a shift in product mix.”