Coy Gets ‘A’ Long-term, ‘A1’ Short-term Credit Ratings

Falcon Corporation Limited, one of Nigeria’s indigenous gas companies, has received an “A” long-term and “A1” short-term corporate credit rating with a stable outlook from Agusto & Co., Pan-African’s foremost credit rating agency.

Agusto & Co said the assigned ratings reflect Falcon’s strong financial position, underpinned by sustained gas demand driven by industrialisation, growing domestic power generation needs, and energy transition pressures, within the company’s exclusive distribution rights in designated franchise areas.

Commenting on the rating, Chief Executive Officer of Falcon Corporation, Audrey Joe-Ezigbo, said, “This rating affirms the resilience of our business model, the strength of our operations, and the clarity of our long-term strategy. 

“For over three decades, Falcon has remained committed to developing gas infrastructure that supports Nigeria’s industrial growth, energy security, and environmental stewardship. We are pleased that Agusto & Co.’s assessment reflects the discipline, expertise, consistency, strategic foresight, and strong governance frameworks that define our approach to delivering value.”

In his remarks, Chief Financial Officer of Falcon Corporation, Nelson Walter, added, “We continue to uphold a disciplined financial strategy, prioritising the development of a robust balance sheet that supports our sustainable growth ambitions.”

On his part, Chief Technical Officer of Falcon, Chibueze Ekeocha, emphasised that the rating highlights the company’s technical leadership and operational excellence.