DANGOTE CEMENT PLC – Credit Ratings
Moody’s Investors Service has assigned a first-time Ba3 Local Currency Corporate Family Rating (CFR), a Ba3-PD Probability of Default Rating, and an Aaa.ng National Scale Rating (NSR) to Dangote Cement Plc with a stable outlook. The Ba3 Local Currency CFR assigned to the Company is one notch above the B1 rating assigned to Nigeria by the rating agency in April 2016.
Global Credit Ratings Co. has also assigned long term and short term national scale issuer ratings of AA+(NG) and A1+(NG) respectively to the Company with a stable outlook.
SOVEREIGN TRUST INSURANCE PLC
Financial Result for the 3 Months Ended 31st March, 2017
Gross Premium Written: 78% increase from N2.3bn to N4.1bn
Profit/(Loss) after Tax: 103% increase from N215.9m to N437.2m (3M 2017 EPS, 5.89 kobo; 3M 2016 EPS, 2.91 kobo)
Audited Financial Result for the Year Ended 31st December, 2016
Gross Premium Written: 10% decrease from N7.1bn to N6.4bn
Profit/(Loss) after Tax: 96% decrease from N557.8m to N23.6m (FY 2016 EPS, 0.3 kobo; FY 2015 EPS, 7.1 kobo)
MOBIL OIL NIGERIA PLC – Extension of Closure Date for Mandatory Takeover Bid
The closure date for the Mandatory Takeover Bid (MTO) of the shares of Mobil Oil Nigeria Plc. by NIPCO Investment Limited has been extended from 29th June, 2017 to 27th July, 2017. The Qualification Date for the MTO remains 10th April, 2017.