Tag Archives: Fitch

Fitch Ratings says it foresees an upgrade of ENG's National Ratings which would result from strengthening its creditworthiness relative to other Nigerian issuers.

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Fitch Ratings has affirmed the Long Term Issuer Default rating of United Bank for Africa Plc at “B”, with a stable outlook. According to Fitch, the rating of UBA is driven by the standalone creditworthiness of the bank, as defined by its viability rating, which is constrained by Nigeria’s operating environment. In the report issued on Wednesday, Fitch highlighted the …

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One of the leading global rating agencies, Fitch Ratings has stated that Nigerian banks’ ability to access foreign currency (FC) has improved considerably since the Central Bank of Nigeria (CBN) introduced a foreign exchange (FX) window at the end of April aimed at investors and exporters. The Nigerian Autonomous Foreign Exchange Rate Fixing (NAFEX) mechanism, commonly referred to as the …

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Global rating agency Fitch, on Wednesday, said that Nigerian banks will face more challenges this year even after the difficulties of 2016. Fitch made this known in its Peer Review reports, where it said the outlook for 2017 wasn’t much brighter than 2016. According to the organisation, Nigerian banks struggled with declining operating profitability (excluding translation gains), sluggish credit growth, …

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