The statement said, “The positive rating assigned reflects DataPro’s opinion of LandWey’s diversified revenue source, good project experience as well as it’s macroeconomic environment.
“BBB” indicates slight risk. It shows fair financial strength, operating performance and business profile when compared to the standard established by DataPro. This company, in our opinion, has the ability to meet its ongoing obligations, but its financial strength is vulnerable to adverse changes in economic conditions.”
According to the statement, the short-term rating of “A2” assigned indicates fair credit quality and adequate capacity for timely payment of financial commitments. DataPro noted that the rating carried a maximum shelf life of 12 calendar months, in line with International Best Practice. “The Rating is therefore not an offer to trade in securities nor a substitute for the user’s judgement. It is meant for reference purposes,” it said.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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