₦airaland Forum

Fitch Ratings announced on Feb. 11 it will no longer assess Dangote Industries. After keeping the Nigerian conglomerate under negative watch due to refinancing struggles, the credit rating agency has decided to withdraw all its evaluations. The move could have serious consequences for one of Africa’s largest industrial groups, as investors grow increasingly uneasy about its financial health.

Dangote Industries is currently dealing with $2 billion in syndicated senior debt and $1.65 billion in intra-group loans that can be called in at any time. The company has pinned its growth hopes on the Lekki refinery, but the massive project has yet to reach full production capacity or generate the revenue needed to ease cash flow pressure.

Officially, Fitch says the decision was made for commercial reasons. However, in its last report, the agency had placed Dangote Industries under “Rating Watch Negative,” signaling a possible downgrade due to the company’s difficulties in meeting its financial commitments.

Let them do for NNPLC. Let's see something.

MadamExcellency:
Let them do for NNPLC. Let's see something.

NNPCL does not need direct financing from international investors. It is bankrolled by FG and Nigeria oil assets.

Dangote Industries deserve support. If not for anything else, for the tens of thousands of jobs they create. Dangote is systemically important to the Nigerian economy.

chicfarmer:
Dangote Industries deserve support. If not for anything else, for the tens of thousands of jobs they create. Dangote is systemically important to the Nigerian economy.

CBN already gave him very very cheap dollars. Pay for crude in naira...so he has more dollars to pay his debts.

He has to export more products, earn more $$$ and pay back his debt

RRsport2:
CBN already gave him very very cheap dollars. Pay for crude in naira...so he has more dollars to pay his debts.

He has to export more products, earn more $$$ and pay back his debt

Dangote has not defaulted.

chicfarmer:
Dangote has not defaulted.

Nothing about default just that debts are due soon and no signs cash flow enough: so Fitch withdrew rating otherwise they could be liable if investors put more money and loose it.

with no rating refinance will be costly for him since only high risk investors will put more money

650k bod refinery was just too ambitious a behemoth for dangote. Half that size would have been appropriate and would have eased off credit pressure from both underutilization and cash inflows.

Svoboda:
650k bod refinery was just too ambitious a behemoth for dangote. Half that size would have been appropriate and would have eased off credit pressure from both underutilization and cash inflows.

very well said. biting more than u can chew....

The amount of influence foreign rating boards are allowed to have over Nigeran people's heads is alarming. It's worst because Nigerians fundamentally can't process that others can be against them for selfish reasons. They believe only Nigerians are worthy of mistrust.

Ofodirinwa:
The amount of influence foreign rating boards are allowed to have over Nigeran people's heads is alarming. It's worst because Nigerians fundamentally can't process that others can be against them for selfish reasons. They believe only Nigerians are worthy of mistrust.

That is not true. If u go international to borrow money, u need to be rated, so serious investor can give you fund without this rating, investors are not sure how to determine their risk on u..so you will only get high interest loan or nothing at all.


France was downgraded recently.. see attached

Off course but we have hatefusouls like tou claim same Dangote refinery will never work till 7070.now that you life as been ruined with Dangote dishing out refined product daily you are looking for another pathetic avenue to wai like your hate filled tribesmen who believes only foolish miserable souls like you own monopoly to business.

Sorry to say you will only be wailing to death as Dangote will pay off it debt n go on to. E the biggest company in Nigerian
ensuring your daily regret, agony n anguish.

RRsport2:
That is not true. If u go international to borrow money, u need to be rated, so serious investor can give you fund without this rating, investors are not sure how to determine their risk on u..so you will only get high interest loan or nothing at all.


France was downgraded recently.. see attached

The Malta cabal is really stiffling the growth Dangote refinery , sabotage everywhere

Svoboda:
650k bod refinery was just too ambitious a behemoth for dangote. Half that size would have been appropriate and would have eased off credit pressure from both underutilization and cash inflows.

and you yet you no get 2 BPD refinery online anaysty

Dangote that claims to be an innovative investor is just a shylock that sucks NIGERIA dry.


He sources Cement from NIGERIA..Cement Prices are highest in NIGERIA and Africa

He imports all the industrial Sugar that major drink company's use Pepsi..Coke..Nigerian Breweries etc

He tried with noddles and failed(Dangote)
He tried with Fruit Juice and failed(DANSA)
He tried with bottled water and failed (MOWA)

His Spaghetti is the worst...in the range


I just want people to understand Dangote was NEVER an astute Business man. He is a front for OBASANJO and most Generals of the OLD ORDER, who used him to launder Money for political favours and shutdown opposition.

Dangote is a scam...

For my Yoruba people celebrating Nonsense refinery in Lagos. Be rest assured that the REFINERY is actually a symbolic notification that the KORAN has conquered the SW.

In years to come you will understand..

Good day

SalamRushdie:
The Malta cabal is really stiffling the growth Dangote refinery , sabotage everywhere

It is deregulated sector. all competition welcome. so consumers can smile.

RRsport2:
It is deregulated sector. all competition welcome. so consumers can smile.

Corruption is dancing skelewu you say its deregulation, the last time consumers smiled was when fuel was 187

SalamRushdie:
Corruption is dancing skelewu you say its deregulation, the last time consumers smiled was when fuel was 187

very true but this is not caused by the petroleum trading companies.. you know who to blame for that.