{"id":192879,"date":"2025-10-06T09:58:19","date_gmt":"2025-10-06T09:58:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/192879\/"},"modified":"2025-10-06T09:58:19","modified_gmt":"2025-10-06T09:58:19","slug":"legend-internet-gets-agustos-investment-grade-rating","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/192879\/","title":{"rendered":"Legend Internet gets Agusto\u2019s investment-grade rating"},"content":{"rendered":"<p>Legend Internet Plc, an indigenous broadband service provider, has been assigned a long-term corporate rating of \u201cBbb-\u201d and a short-term rating of \u201cA3\u201d with a Stable Outlook by <a href=\"https:\/\/www.agusto.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Agusto &amp; Co<\/a>.<\/p>\n<p>Agusto &amp; Co. noted that Legend\u2019s strategic pause in customer activations during Abuja\u2019s city-wide construction works has positioned the company to scale more efficiently as disruptions subside.<\/p>\n<p>The recently approved 50 per cent tariff hike by the Nigerian Communications Commission (NCC) is also expected to boost earnings and cash flow in the near term.<\/p>\n<p>Chief Executive Officer, Legend Internet Plc, Aisha Abdulaziz said the rating marked Legend\u2019s inaugural rating since its incorporation in 2021 and represented a strong validation of the company\u2019s business fundamentals and growth strategy.<\/p>\n<p>She said the rating reflected Legend\u2019s satisfactory financial condition, supported by its cash-driven operations and low leverage.<\/p>\n<p>According to her, the rating also reflected robust infrastructure investments across the Federal Capital Territory (FCT), passing 250,000 homes with 22,000 connected and 10,000 currently active, improving profitability margins, with gross profit rising to 63.9 per cent in for year ending 2024-2025.<\/p>\n<p>She pointed out that the exemplary rating\u00a0 was the outcome of cost optimisation measures and strong expansion prospects, including planned entry into Lagos via merger and acquisition, alongside organic growth in Abuja and future rollouts in Kano and Port Harcourt.<\/p>\n<p>She said: \u201c This is first-time rating from Agusto &amp; Co. is a milestone achievement for Legend Internet Plc. It validates our resilience, prudent financial management, and commitment to building Nigeria\u2019s most reliable broadband network. As we expand into Lagos and other key markets, this rating reinforces the confidence of our investors, partners, and customers in Legend\u2019s ability to grow sustainably while powering digital lifestyles across Nigeria\u201d.<\/p>\n<p>She said Legend Internet, which transitioned to a public limited company in April 2024, is advancing plans for a dual listing on the Nigerian Exchange (NGX) and the London Stock Exchange.<\/p>\n<p>She added that the company continues to diversify its ecosystem with complementary solutions such as LegendMail-Nigeria\u2019s first commercial email platform; MailPay \u2013 proprietary fintech application, and Legend Omni-Fibre-to-the-Room \u2013 (FTTR) services introduced in partnership with Huawei.<\/p>\n<p>She said that with the rating, Legend Internet has strengthened its position as one of Nigeria\u2019s leading broadband providers, building a stable foundation to accelerate growth, attract investment, and deepen digital inclusion nationwide.<\/p>\n","protected":false},"excerpt":{"rendered":"Legend Internet Plc, an indigenous broadband service provider, has been assigned a long-term corporate rating of \u201cBbb-\u201d and&hellip;\n","protected":false},"author":2,"featured_media":192880,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[96093,49,48,244,61],"class_list":{"0":"post-192879","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-internet","8":"tag-agusto-co","9":"tag-ca","10":"tag-canada","11":"tag-internet","12":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/192879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=192879"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/192879\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/192880"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=192879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=192879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=192879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}