Fitch revises FBNH outlook to stable

Fitch Ratings said it revised the outlook on the long-term issuer default ratings of FBN Holdings plc and its primary operating company, First Bank of Nigeria Ltd. to stable from positive and affirmed the long-term ratings at B-.

“The revision of the outlooks reflects continuing asset quality pressure on FBNH and FBN’s credit profiles and our expectation that this will take longer than previously anticipated to resolve,” said Fitch in a press release.

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