Author: Marketforces Africa

MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

GCR Affirms Nigerian Breweries Ratings, Cites Low Cash Holdings Emerging market focus rating agency, GCR Ratings (GCR) has affirmed the national scale long-term and short-term Issuer ratings of AA+(NG) and A1+(NG) respectively assigned to Nigerian Breweries Plc, with the outlook revised to stable. The brewer’s top-notch ratings are affirmed, though its liquidity position is assessed as weak given its large short-term obligations. According to GCR, Nigerian Breweries’ cash holdings of N22.1 billion in December 2022 and the projected cash flow are not sufficient to meet maturing short-term debt of N119.8 billion. Also, there is an estimated capital spending of N30…

Read More