July 27, 2022 (Lagos, Nigeria) — Axxela Limited (“Axxela”), one of the leading energy solutions providers in Sub-Saharan Africa, has retained its “A-” corporate credit rating by Agusto & Co., for the second year running.
Following a successful corporate rating report, the rating agency has affirmed the A-” rating assigned to Axxela and its Series 1 Bond.
Commenting on the development, the Chief Financial Officer, Axxela, Timothy Ononiwu said, “the affirmation of our rating reflects our resilience and prudent management of our business operations despite headwinds in the macroeconomic environment. It also underscores increasing confidence of local and international investors in our growth potentials”.
Retaining the credit rating underpins Axxela’s strong operating performance, continuous demonstration of good financial standing and ongoing investments in innovative business solutions.
About Axxela
Axxela Limited (“Axxela”) is a pioneering private sector-led developer of natural gas; a company co-owned by Helios Investment Partners LLP and Sojitz Corporation. Axxela is a designated natural gas shipper on the West African Gas Pipeline (WAGP), and a member of the West African Power Pool (WAPP), delivering natural gas to about 200 industrial and commercial customers via a vast network of natural gas infrastructure.
With over 300km in natural gas pipeline infrastructure built, Axxela provides unique energy solutions primarily through its subsidiaries: Gaslink Nigeria Limited, Gas Network Services Limited, Central Horizon Gas Company Limited, and Transit Gas Nigeria Limited.