Dangote Industries Limited (DIL) has been granted the national scale issuer ratings of AA+(NG) and A1+(NG), respectively, by GCR Ratings (GCR). The national scale long-term issue rating of AA+(NG) assigned to each of Dangote Industries Funding Plc's Series 1 NGN10.5Bn Tranche A and NGN177.1Bn Tranche B Bonds, as well as Series 2 NGN112.4Bn Senior Unsecured Bond, was also confirmed by GCR in a recent report. The ratings' previous stable outlook has been changed to evolving. As stated by GCR, "the ratings were affirmed on the prospects of robust earnings expectation from the other businesses and significant growth in earnings following the commencement of operations at the new petrochemical refinery."
