S&P: Ecobank Nigeria to stable

S&P said it revised its outlook on Ecobank Nigeria Ltd. to stable from negative and affirmed the B/B long- and short-term counterparty credit ratings.

“Our outlook revision reflects our view that the Ecobank Group's management has addressed the significant liquidity risks and is improving the capitalization and asset quality of the Nigerian business, while implementing a wider strategy of improving asset quality and financial performance around the group,” the agency said in a news release.

S&P said the bank is considered to be a core subsidiary within the Ecobank Group, and as a result, the ratings on Ecobank Nigeria reflect the wider group credit profile.

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