Credit Rating Agency (CRA), DataPro, has assigned Zylus Homes and Property Limited a long-term rating of ‘BBB’ with a positive outlook for 2023/2024.

The agency, in its latest report, explained that the firm, when assessed on its standards, shows excellent financial strength, profitability and liquidity profile.

The rating agency said the firm demonstrated sustained growth in earnings with a compound yearly growth rate of 22.6 per cent.

According to DataPro, during the year, 2022, revenue rose by 12 per cent to N11.5 billion.

The firm’s equity provided 44 per cent funding for the company’s assets in 2021 and 2022.

It stated that its liquidity profile also improved from 202 per cent (Yr.21) to 204 per cent (Yr. 22).

It stated that considerations for the rating assigned included the company’s financial, performance, profitability, capital structure, asset quality, liquidity, corporate governance and risk management, as well as risk factors.