DataPro affirms Veritasi Homes credit ratings

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Veritasi Homes

DataPro has affirmed a short-term credit rating of A2 and long-term credit rating of BBB to Veritasi Homes and Properties Limited – a leading real estate and property development company in Nigeria.

The outlook assigned to the company is stable and the ratings have a 12-month validity period and are focused on the company’s creditworthiness and ability to meet its financial commitment promptly.

The credit ratings, which were issued on the 13th of January, 2022 attribute a fair credit quality and financial strength status to Veritasi Homes’.

According to Data Pro’s standards, the short term rating indicates that the company’s “capacity for timely payment of financial commitments is adequate. However, near term adverse changes could result in a reduction to non-investment grade”, while the long term rating indicates fair financial strength, operating performance and business profile. Overall, the ratings affirm the company’s ability to meet its current obligations.

Read also: Akwa Ibom urges residents to tap opportunities in housing sector

Veritasi Homes and Properties which has been in operations since 2017, is a premium real estate company specializing in providing advisory and developmental real estate services in Nigeria.

The company’s vision is to be a world-class real estate development company driven by value, innovation and optimum service delivery.

DataPro is a licensed Credit Rating Agency (CRA) in Nigeria recognized by the Securities and Exchange Commission (SEC).

The agency has been in existence for over a decade in the industry and stands out with a sound ethical and professional reputation. The agency takes note of both quantitative and qualitative factors within the industry while arriving at its rating.

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