Moody’s views Nigeria banks positively

Moody’s Investors Service said it changed the outlooks for nine Nigerian banks to positive from stable and affirmed their ratings.

The positive outlook and ratings affirmations reflect a similar action on the sovereign rating on Friday, the agency said.

The banks are Access Bank plc, Zenith Bank plc, First Bank of Nigeria Ltd., United Bank for Africa plc, Guaranty Trust Bank Ltd., Union Bank of Nigeria plc, Fidelity Bank plc, First City Monument Bank Ltd. and Sterling Bank Ltd.

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