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Tag: Fitch Rating

Banking

Globus Bank gets inaugural credit rating from Fitch

Globus Bank Limited, a national commercial bank in Nigeria, has been assigned its inaugural credit ratings by Fitch Ratings, one of the world’s foremost global credit rating agencies. The Bank has been assigned a Long-Term Issuer Default Rating, IDR, of ‘B-‘ with a Stable Outlook, a Viability Rating, VR, of ‘b-‘, and a National Long-Term […]

Opinion

Fitch warns Iran conflict threatens emerging market economies

Global credit rating agency, Fitch, warned on Tuesday that merging market economies could face heightened economic and financial pressures as a result of the ongoing conflict involving Iran. Fitch issued the warning in its report titled “Iran conflict raises new credit risks for emerging market sovereigns”. The report highlighted that sustained disruptions to energy supplies […]

News

Fitch affirms Kogi, Oyo ratings at ‘B’ with stable outlook

Fitch Ratings has affirmed the Long-Term Issuer Default Ratings of Kogi and Oyo States at ‘B’ with a Stable Outlook, citing their ongoing reliance on federal revenue transfers. In its latest assessment published on its website, the agency said the ratings reflect expectations of continued fiscal stability in both states, despite external pressures and vulnerability […]

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Fitch’s African loan assessment contradicts itself — Afreximbank executive

The Executive Vice President for Governance, Legal & Corporate Services at Afreximbank, Dr. George Elombi, has described Fitch Ratings’ assessment of the bank’s loans to African countries as a “contradiction.” He argued that while Fitch issued a negative outlook, it also projected that the same loan obligations would start being repaid within 18 to 24 months. […]

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Fitch upgrades Nigeria’s rating to ‘B’ amid reform push

Fitch Ratings has upgraded Nigeria’s Long-Term Foreign-Currency Issuer Default Rating from ‘B-’ to ‘B’ and assigned a stable outlook to the country. According to Fitch Ratings’ assessment published on its website on Friday, the upgrade reflects growing confidence in Nigeria’s commitment to broad policy reforms initiated since the shift to orthodox economic policies in June […]

Fraud losses decline in Nigerian banks in Q1 2024 - Report
News

Fitch projects rise in Nigerian banks’ non-performing loans

Credit ratings agency, Fitch has projected an increase in non-performing loans among Nigerian banks in 2024, attributing this trend to rising interest rates and inflation. In its latest credit report, Fitch affirmed Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘B-‘ with a Positive Outlook. The report noted that the loan books of the banking […]

News

Fitch upgrades Nigeria’s credit outlook

The credit rating outlook of Nigeria was reviewed upward to positive from stable by Fitch ratings, six months after it said that reform progress since President Bola Tinubu came to power in May of last year faster than was anticipated. The reforms such as that in the foreign exchange market, monetary policy, and oil and […]

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