Fitch nicks Nigerian Banks

Fitch Ratings said it downgraded the long-term issuer default ratings of seven Nigerian banks and a bank holding company to B- from B.

The downgrades follow a similar action on Nigeria's long-term IDRs to B- from B on Nov. 11, the agency said.

The issuers are Access Bank plc, Zenith Bank plc, FBN Holdings plc, First Bank of Nigeria Ltd., United Bank for Africa plc, Guaranty Trust Bank Ltd., Fidelity Bank plc and BOI Finance BV.

The outlooks are stable.

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