Fitch Ratings has placed First City Monument Bank Limited's (FCMB) Long- and Short-Term Issuer Default Ratings (IDRs), Viability Rating (VR) and National Ratings on Rating Watch Negative (RWN) following the sharp devaluation of the Nigerian naira. Fitch has simultaneously affirmed seven other Nigerian banks' and three bank holding companies' (BHCs) ratings, all with Stable Outlooks. |
This rating action commentary replaces the version published on 6th June 2023 to correct the capitalisation and leverage score. Fitch Ratings has affirmed United Bank for Africa (UBA) Plc's Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. Fitch has also affirmed the bank's National Long-Term Rating at 'A+(nga)' and assigned a Stable |
Fitch Ratings has affirmed Ecobank Nigeria Limited's (ENG) Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. Fitch has also affirmed its National Long-Term Rating at 'BBB (nga)' and assigned a Stable Outlook. Key Rating Drivers ENG's IDR is driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of 'b-'. |
Fitch Ratings has affirmed Ecobank Transnational Incorporated's (ETI) Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook and Viability Rating (VR) at 'b-'. Fitch has withdrawn ETI's Support Rating and Support Rating Floor as they are no longer relevant to the agency's coverage following the publication of its Bank Rating Criteria on 12 |
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