Olje og energi

MarketGunsling
21.09.2022 kl 16:25 2018

The “B positive” credit rating upgrade is a massive endorsement of Zenith’s strategy from a financial organisation that does not value sentiment but only finance. As they say in the report:

“The rating upgrade reflects the large increases in sales revenues, assets, and equity, as well as the improvements in key financial indicators, namely the decrease in both total and financial leverage and the increase in current liquidity. The positive outlook reflects the progress that the group has achieved during the last two years in building a well-balanced portfolio of production and development assets in Africa. The company has ambitious development plans. If the goals set are achieved, it will be able to recoup the investments made in the acquisition of its African assets in a relatively short time. The following factors could lead to a rating upgrade: 1) successful development of activities in Congo; 2) further improvement in liquidity position; 3) continued increase in production, leading to positive operating results and higher profitability; 4) debt reduction.”

The credit rating upgrade does not tell us anything that we don’t already know, but it is nice to see a financial institution recognising what the company has achieved over the last two years. Now we just need the share price to catch-up with the positivity, but this is yet another step to that happening.

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