Guinness Nigeria Plc. 2020 Final Rating Report 2020 Corporate Rating Report Guinness Nigeria Plc Issuer Rating This is a company with good financial condition and strong capacity to repay A- obligations on a timely basis. Outlook: Stable Issue Date: 26 April 2020 RATING RATIONALE Expiry Date: 31 December 2020 . Guinness Nigeria Plc (‘Guinness Nigeria’, ‘GNPLC’ or ‘the Company’) is a Previous Rating: A- (expired member of the Diageo Group (‘Diageo’ or the ‘Group’) – one of the world’s December 2016) leading manufacturers of spirits, beers and wines. Diageo operates in over 180 countries and has over 200 brands across both alcoholic and non-alcoholic Industry: Brewery beverage categories. The Group is the largest international premium spirit producer in the world by revenue and continues to benefit from its global distribution networks and partnerships. Diageo has a strong market position Outline Page across multiple product categories, underpinned by its wide product portfolio Rationale 1 1 Company Profile 4 and marketing innovation. As at 31 December 2019 , the Group’s total assets Financial Condition 7 stood at £31.7 billion ($39.4 billion), while net revenue of £10.8 billion ($13.4 Ownership, Mgt & Staff 12 billion) was reported in the same period. Diageo Group has investment grade Outlook 14 2 Financial Summary 15 ratings from three international rating agencies, on the back of its improving Rating Definition 19 profitability and strong cash generating capacity. Over the years, Diageo Plc. has provided strong parental support (both Analysts: technical and financial) to Guinness Nigeria. This is demonstrated through the Ojuru Adeniji continued credit lines provided to the Company coupled with the Group taking
[email protected] up its rights in the last concluded capital raise which increased its shareholdings Isaac Babatunde to 58.02% from 54.32%.