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
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: Outlook: Positive
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