Press releases
Voluntary update - Credit Rating
- Details
- Published: Tuesday, 03 September 2024 16:54
Omnia is pleased to inform stakeholders that Global Credit Rating Company Ltd (“GCR”), an affiliate of Moody’s Investor Services, has affirmed Omnia’s long-term issuer rating at A+ (ZA) and its short-term issuer rating at A1 (ZA), with a Stable Outlook.
The affirmation of the Company’s ratings reflects GCR’s view of Omnia’s strong competitive position, robust cash generation and resilient earnings profile despite commodity price volatility. The rating is further supported by Omnia’s low debt levels and healthy liquidity, which the group is expected to sustain.
The report also highlights the following elements of Omnia’s investment case:
- The Company’s strong net cash position;
- The solid business profile derived from the Company’s diversified operations across geographies and end-markets;
- Proprietary technologies, a modern asset base, improved control of supply chain and varying degrees of integration of manufacturing capabilities across business segments, underpinning its strong competitiveness in its core markets in South Africa and the rest of Africa;
- Commitment to sustainability and environmental targets; and
- The expectation that the Company will continue to enhance its competitive position, resulting in a more resilient earnings profile.
Seelan Gobalsamy, Chief Executive Officer of Omnia said: “GCR’s credit rating affirmation is reflective of the diligent execution of our strategy, underpinned by disciplined capital allocation which has delivered international diversification, growth of our Mining segment and operational agility. We continue to enhance our resilience to economic volatility and strengthening our market positioning, to ensure we remain responsive to customer needs and the delivery of long-term stakeholder value.”
GCR’s full report is available at
https://gcrratings.com/announcements/gcr-affirms-omnias-long-term-issuer-rating-of-aza-on-maintenance-of-low-leverage-and-strong-underlying-performance-despite-commodity-price-volatility-outlook-stable/
or Omnia’s Investor Relations office at
Johannesburg
3 September 2024
Sponsor: Java Capital