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Outlooks On First Bank of Nigeria, Zenith Bank, And Guaranty Trust Bank Revised To Positive; Ratings Affirmed Jan 12 Product Image

Outlooks On First Bank of Nigeria, Zenith Bank, And Guaranty Trust Bank Revised To Positive; Ratings Affirmed Jan 12

  • Published: January 2012
  • Region: Nigeria
  • Standard & Poors

FEATURED COMPANIES

  • First Bank of Nigeria PLC
  • Guaranty Trust Bank PLC
  • Zenith Bank PLC
  • MORE

Abstract
On Dec. 29, 2011, we revised the outlook on the Republic of Nigeria to positive from stable, and affirmed the long- and short-term sovereign credit ratings on Nigeria at 'B+/B'. As a result, we are revising the outlooks on First Bank of Nigeria, Zenith Bank, and Guaranty Trust Bank to positive from stable. We have affirmed the long- and short-term counterparty credit ratings on all three banks at 'B+/B'. In addition, we are raising our Nigeria national scale ratings on all three banks to 'ngA+/ngA-1' from 'ngA/ngA-1', reflecting Nigeria's positive economic prospects and their expected effect on the banks' financial performances. The positive outlooks on the three banks largely reflect the banks' stand-alone credit profiles (SACPs) and the outlook on...

Companies mentioned in this report are:
- First Bank of Nigeria PLC
- Guaranty Trust Bank PLC
- Zenith Bank PLC

Action: Affirmed
Action: Outlook: Positive

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets READ MORE >

- First Bank of Nigeria PLC
- Guaranty Trust Bank PLC
- Zenith Bank PLC

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