• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Fitch Downgrades Dangote Credit Rating, Citing Liquidity Concerns

1 year ago
in Business, Energy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
48
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

Fitch Downgrades Dangote Credit Rating, Citing Liquidity Concerns
Fitch Ratings has downgraded Dangote Industries Limited’s (DIL) credit rating to B+ and put it on ratings watch negative, citing concerns about its liquidity and ability to raise money.
DIL operates what will be Africa’s largest oil refinery once fully operational, a 650,000 barrel per day facility in Nigeria. It also controls Dangote Cement.
“The downgrade reflects significant deterioration in the group’s liquidity position,” Fitch said, adding that the group had underperformed its operational and financial expectations and was also hit by devaluations to the naira currency.
“We do not expect a positive rating action until the company’s liquidity position improves substantially.”
Nigeria’s currency devaluation in 2023, which sent the naira to record lows, led to a 2.7 trillion naira ($1.74 billion)foreign exchange loss for Dangote last year, Fitch said.
Dangote faces a “mismatch” between dollar-denominated debt and domestic revenue in naira, the ratings agency said.
The company’s oil refinery operated at about 50% capacity in the first half of the year, at 325,000-375,000 bpd,
Fitch said, while Dangote’s fertiliser business was hindered by inadequate gas supply.
Fitch said it expects Dangote’s margins in cement to drop further this year, dented by a limited ability to pass on higher costs to consumers, while demand remains soft.
Source: reuters
Via: norvanreports
Tags: Citing Liquidity ConcernsDangote Credit RatingFitchFitch Downgrades Dangote Credit Rating

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

The Rise of Women-Tailored Insurance Policies in Africa

Energy Ministry, NPA Engage Industry on Proposed Petroleum Sector Legislation

President Mahama Targets Billion-dollar Ghana–Singapore Trade in 24-Hour Economy Pitch to Investors

Unpaid Taxes “Very Frightening”, Says Hon. Nana Osei-Adjei

Trending

Energy

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

August 26, 2025

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to...

Kwesi Appiah: The Ghanaian Legend Rewriting Sudan’s Football Story Amid War

August 26, 2025

Cadillac Signs Sergio Perez and Valtteri Bottas for 2026 F1 Debut

August 26, 2025

FEC 2025: Energy Minister Warns African Gov’ts Cannot Sustain Energy Financing Burden; Urges Stronger Private Sector Role in Continent’s Energy Financing

August 26, 2025

ACEP Pushes for Bold Financing Models to Tackle Africa’s Energy Poverty at FEC 2025

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.