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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

  • ID: 2038810
  • 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 users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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

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