Moody’s rates Ecobank B2

Moody's Investors Service said it assigned B2/Not Prime global local and foreign currency issuer ratings to Ecobank Transnational Inc.

The outlook is stable.

The agency also assigned a notional baseline credit assessment and adjusted baseline credit assessment of b2 and b1, respectively, based on the bank’s consolidated financial statements.

Moody’s said the ratings reflect the group's stable funding and liquidity profile, expansive geographic and business diversification, recovering profitability and the agency’s assessment of a moderate probability of affiliate support in case of need.

These strengths are balanced against the group's high but potentially moderating asset risks and modest capital buffers, which are largely legacy issues that the bank's new management is proactively addressing as part of a broader strategic plan, the agency said.

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