GCR upgrades Dangote Cement’s long-term issuer rating

GCR Ratings, Africa’s largest credit rating agency, has upgraded the long-term issuer rating of Dangote Cement Plc to AAA (NG), the cement producer said on Thursday.

The company said the rating agency affirmed its short-term issuer rating of A1+(NG), with outlook accorded as stable.

“Dangote Cement Plc’s existing N100bn Series 1 Fixed Rate Bond is the only corporate bond at AAA rating in Nigeria,” it said on Twitter.