Zylus Homes & Property Ltd Gets “BBB” Rating
DataPro, the technology-driven credit rating agency has assigned Zylus Homes and Property Limited a long-term rating of “BBB” with a Positive Outlook for the year 2023/2024.
In a statement issued on Monday, the company’s Client Service Manager, Mr. Kehinde Rasheed explained that considerations for the rating assigned include the company’s financial
performance, profitability, capital structure, asset quality, liquidity, corporate governance and risk management as well as its risk factors.
“Zylus demonstrated sustained growth in earnings with a compound annual
growth rate of 22.6%.
“During the year 2022, revenue rose by 12% to N11.5bn. Equity provided 44% funding for the company’s assets in the year 2021 and 2022. Its liquidity profile also improved from 202% (Yr.21) to 204% (Yr. 22),” the statement said.
It explained further that the positive rating assigned reflects DataPro’s opinion of Zylus’s good revenue, profitability and liquidity profile.
According to the statement, “BBB” indicates slight risk. It shows fair financial strength, operating performance and business profile when compared to the standard established by DataPro.
