FairMoney Earns BBB+ Credit Ratings and Reaches N112bn in Annual Revenue
Credit Rating Upgrade: MyCredit Investments Limited (FairMoney) has received an upgrade in its long-term rating from BBB(NG) to BBB+(NG) and short-term rating from A3(NG) to A2(NG) by Global Credit Ratings, reflecting improvements in the Nigerian microfinance sector and the company's strong operational performance.
Financial Performance: The company reported a strong financial performance for the 2024 fiscal year, with operating revenue of NGN 112.3 billion, supported by consistent earnings and strong cash flow generation.
Market Position: FairMoney is recognized as a leading player in Nigeria's microlending market, benefiting from high customer demand, a robust loan disbursement process, and a diversified offering that now includes loans for small and medium-scale businesses.
Future Outlook: The Stable Outlook from GCR indicates expectations for continued improvement in FairMoney's portfolio quality, supported by enhanced customer risk assessment and a stable macroeconomic environment, with plans to strengthen market share and diversify earnings.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE). As of , (STABLE) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 4 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for STABLE stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, STABLE is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0253 | 0.0286 | 0.0309 | 0.0342 | 0.0365 | 0.0397 | 0.0421 |
| Fibonacci | 0.0286 | 0.0307 | 0.032 | 0.0342 | 0.0363 | 0.0376 | 0.0397 |
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