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S&P lifts five Nigerian banks
S&P said it raised the short-term counterparty credit ratings on five Nigerian banks.
The ratings were considered "under criteria observation" since April 7, the agency said.
With the criteria review complete, S&P said it raised the short-term counterparty credit ratings to B from C.
The banks' long-term counterparty credit ratings were affirmed.
The banks with upgraded ratings include Diamond Bank plc, FBN Holdings plc, Fidelity Bank plc, First Bank of Nigeria Ltd. and First City Monument Bank.
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