Falcon Corporation Limited, an indigenous gas company, 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.
According to Agusto & Co., 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.
The ratings also recognise the company’s strong, sustainable operating cash flow, supported by favourable terms of trade and long-term gas supply contracts with industrial and commercial customers.
Commenting on the rating, Audrey Joe-Ezigbo, Chief Executive Officer of Falcon Corporation Limited, 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.”
Also speaking on the rating, Chief Financial Officer, Falcon Corporation, Nelson Walter, noted that: “We continue to uphold a disciplined financial strategy, prioritising the development of a robust balance sheet that supports our sustainable growth ambitions. Our investments are strategically targeted to optimise asset utilisation, broaden revenue streams, and strengthen long-term financial stability. This rating underscores the confidence in our financial leadership and growth outlook.”
Also, the Chief Technical Officer, Falcon Corporation, Engr. Chibueze Ekeocha, emphasised that the rating highlights the company’s technical leadership and operational excellence. “This recognition validates Falcon’s outstanding technical capabilities, uncompromising commitment to excellence, and the deep expertise within our management and engineering teams. Our operations are shaped by internationally recognised best practices and are further strengthened by our ISO 9001:2015 Quality Management System, ISO 14001:2015 Environmental Management System, and ISO 45001:2018 Occupational Health and Safety Management System certifications.”
The Company operates a 25 million standard cubic feet per day (MMSCF/D) gas distribution network within the Ikorodu Natural Gas Distribution Zone, supplying over 21 industrial and commercial customers and has expanded its footprint into the Liquefied Petroleum Gas (LPG) subsector through trading, distribution, and storage infrastructure investments.
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