Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers D > Headlines for Diamond Bank plc > News item |
Fitch cuts Nigeria banks view to negative
Fitch Ratings said it changed the outlook on the long-term foreign-currency issuer default ratings of five Nigerian banks to negative from stable.
Along with the downgrade outlook, the agency said it affirmed the banks ratings.
Diamond Bank plc's long-term issuer default rating is affirmed at B, short-term issuer default rating at B, national long-term rating at A-(nga) and national short-term rating at F2(nga).
First Bank of Nigeria plc's long-term issuer default rating is affirmed at B+, short-term issuer default rating at B, national long-term rating at A+(nga) and national short-term rating at F1(nga).
Oceanic Bank International plc's long-term issuer default rating is affirmed at B, short-term issuer default rating at B, national long-term rating at BBB+(nga) and national short-term rating at F2(nga).
Union Bank of Nigeria plc's long-term issuer default rating is affirmed at B+, short-term issuer default rating at B, national long-term rating at A+(nga) and national short-term rating at F1(nga).
United Bank For Africa plc's long-term issuer default rating is affirmed at B+, short-term issuer default rating at B, national long-term rating at A+(nga) and national short-term rating at F1(nga).
This follows the revision of the outlook on the federal government of Nigeria's sovereign long-term foreign-currency issuer default rating of BB- to negative.
The outlook revision to Nigeria reflects the potential deterioration in the credit quality of the sovereign and consequently its ability to provide support to Nigerian banks, Fitch said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.