Legend Internet Plc, has been assigned a long-term corporate rating of \u201cBbb-\u201d and a short-term rating of \u201cA3\u201d with a Stable Outlook by\u00a0Agusto\u00a0& Co., West Africa\u2019s foremost credit rating agency.\u00a0<\/p>\n
This marks Legend\u2019s inaugural rating since its incorporation in 2021 and represents a strong validation of the Company\u2019s business fundamentals and growth strategy.\u00a0The rating also reflects Legend\u2019s satisfactory financial condition, supported by its cash-driven operations and low leverage. It also reflects 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% in for year end 2024\/25. This exemplary rating\u00a0is the outcome of cost optimisation measures and strong expansion prospects, including its planned entry into Lagos via merger and acquisition, alongside organic growth in Abuja and future rollouts in Kano and Port Harcourt.<\/p>\n
Agusto\u00a0& 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. The recently approved 50% tariff hike by the Nigerian Communications Commission (NCC) is also expected to boost earnings and cash flow in the near term.<\/p>\n
A Statement signed by Legend Internet\u2019s Chief Marketing Officer,\u00a0Shakirah\u00a0\u00a0Alaga, quoted Aisha\u00a0Abdulaziz, Chief Executive Officer of \u00a0Legend Internet Plc, saying \u201c This is first-time rating from\u00a0Agusto\u00a0& 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","protected":false},"excerpt":{"rendered":"Legend Internet Plc, has been assigned a long-term corporate rating of \u201cBbb-\u201d and a short-term rating of \u201cA3\u201d…\n","protected":false},"author":2,"featured_media":182720,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[1638,86,56,54,55],"class_list":{"0":"post-182719","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-internet","8":"tag-internet","9":"tag-technology","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/182719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=182719"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/182719\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/182720"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=182719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=182719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=182719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}