DataPro Affirms SKLD Integrated Services “BBB+”; Outlook Stable 

DataPro, a technology-driven credit rating agency has affirmed SKLD Integrated Services Limited’s long-term rating of “BBB+” with a Stable outlook for the year 2022/2023.

A statement signed by the Client Services Manager of the rating agency, Mr. Kehinde Rasheed, explained that the rating reflects DataPro’s view of the company’s financial resilience following its recovery from the Covid-19 driven revenue decline in the year 2020.

“In the year under review, revenue grew its highest in five years. SKLD’s financial resilience is evident in thebmaintenance of financial metrics consistent with a good financial risk profile, despite experiencing some softening in demands from effects of the pandemic,” the statement said.

It added that the company’s effort to expand its operations was also recognised, saying this was reflected in the surge in the company’s cost profile and increase in capital base. 

“During the year, the company moved to convert its ordinary shares to preference shares leading to a rise in share capital from N10m (Yr. 20) to N777m (Yr. 21),” the state added.