Fitch Ratings has predicted that Nigeria’s inflation rate will decrease to 21.1 percent in 2024, compared to an average of 24.8 percent in 2023. The global rating agency stated this in its latest report, which maintained Nigeria’s long-term foreign-currency issuer…
FITCH Ratings says it foresees an upgrade of ENG’s National Ratings which would result from strengthening its creditworthiness relative to other Nigerian issuers. According to the international rating agency, it expects to resolve the Rating Watch Negative (RWN) of ENG “within the next six…
The creditworthiness of Stanbic IBTC Holdings and its subsidiaries has been affirmed by a global rating agency, Fitch Ratings. The National Long-Term Ratings of the leading end-to-end financial institution in Nigeria has been affirmed at ‘AAA (nga)’ with a Stable…
Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B,’ reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga).’ According to the global rating agency,…
A FITCH Ratings has predicted that Nigeria’s foreign exchange reserves would increase to $43 billion in 2022, as opposed the previous $40.5 billion witnessed at end-2021. The company also affirmed Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (LTFC IDR) at ‘B’…
By Kayode Tokede Following a comprehensive rating process, Fitch Ratings has affirmed Union Bank’s Long-Term Issuer Default Rating at ‘B-’ with a stable outlook. The lender’s Long Term National rating was also upgraded from ‘BBB- (nga)’ to ‘BBB (nga), with…
By Kayode Tokede Fitch Ratings has affirmed United Bank for Africa (UBA) Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’. The international rating agency in a report on Thursday said the bank’s National Short-Term IDR has also been upgraded to…
By Kayode Tokede Fitch Ratings has revised the Outlook on Union Bank of Nigeria Plc to stable from negative, and affirmed the financial service boutique’s Long-Term Issuer Default Rating (IDR) at ‘B-,’ putting the viability rating (VR) at ‘b-.’The ratings…
By Kayode Tokede Fitch Ratings has affirmed Wema Bank PLC’s Long-Term Issuer Default Rating (IDR) at ‘B-’ and removed it from Rating Watch Negative (RWN). According to Fitch, the outlook of the bank is stable. The report stated that, the…
By Asishana John Fitch Ratings has said as underwriter reported substantially higher segment claims losses in 2020 compared to the years before, property and casualty insurers that write cyber coverage face increasing profit pressure, especially with increasing premium rate and…
