Pan-African facilities management company, Alpha Mead Facilities and Management Services Limited received a Bbb+ rating by leading credit rating Agency, Agusto & Co. The rating reflects the company’s satisfactory profitability and cash flow, low leverage metrics, and a stable, qualified, and experienced management team. The Bbb rating is assigned to firms with a satisfactory financial condition and adequate capacity to meet obligations as and when they fall due.

According to the agency, AMFacilities’ leading position in its industry alongside Its fixed long-term contracts with its blue-chip clientele which guarantee steady income catalyzed the rating. Furthermore, the growth potential of the facilities management industry precipitated by the rise of commercial and residential real estate development nationwide also bodes well for the company. However, the lingering effect of the COVID-19 pandemic in the real estate industry, the low occupancy rate in highbrow areas, as well as the widespread adoption of remote working by companies weakened the rating.

Commenting on the rating, the Chairman of Alpha Mead Group, the parent company of AMFacilities, Mr Mutiu Sunmonu (CON) said: “the rating is an acknowledgement of excellence and I want to commend the leadership and staff of the company for attaining such a feat.”

Alpha Mead has a presence in 14 African countries where it provides facilities management and consultancy services, facilities condition audit, power solutions, renovation and renewal, facilities management training programs, and security to corporates and individuals.

The Group Managing Director of Alpha Mead, Engr. Femi Akintunde stated: ”This is not the first time that we will be rated favourably by Agusto & Co. and other international rating agencies like GCR and Datapro. We are very excited that our business strategy that is focused primarily on capacity, agility, and resilience over the years which also saw us through the COVID-19 Pandemic has continued to prove successful and we remain very optimistic of a very bright, vibrant, and prosperous future.”

In 2020, Agusto & Co assigned an A- rating to Alpha Mead Funding Company Plc’s ₦1.45 billion 19.76% Fixed Rate Series 1 Tranche A Bond Due 2020 and attached a stable outlook to the firm.

On his part, the Managing Director of AMFacilities, Mr Wole Olufore maintained: ”The impact of the pandemic on the real estate sector is well documented and it necessitated the recalibration of our efforts to explore our vulnerabilities and opportunities within the FM industry locally and internationally. I must commend the continued dedication of our workforce in going above and beyond to protect the brand and to deliver optimum service to our clients .”

Alpha Mead Facilities is certified to ISO 9001:2015 international standards by the United Kingdom Accreditation Services (UKAS). In October 2021, Datapro assigned a long-term BBB rating and short-term A1 rating with a stable outlook to the Alpha Mead Group.