Fitch affirms Ecobank

Fitch Ratings said it affirmed Ecobank Transnational Inc.'s long-term issuer default rating at B.

The outlook is stable.

"ETI's long- and short-term issuer default ratings are driven by the group's intrinsic creditworthiness, as captured by its b viability rating,” the agency said in a news release.

“The VR takes into consideration the challenging and volatile operating environments of its subsidiaries in Sub-Saharan Africa (SSA), and particularly in Nigeria (B+/negative), which accounts for around 28% of the group assets.

“The VR also factors in ETI's still weak asset quality, variable profitability, despite strong revenue generating capacity, and modest capitalisation.”

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