News

Fitch Cuts Afreximbank Rating as Oramah Exits

Ihesiulo Grace 4 June 2025 0

Fitch Ratings has downgraded the African Export-Import Bank (Afreximbank) to just one notch above junk status, casting a shadow over the legacy of outgoing President Prof. Benedict Oramah. The downgrade reflects mounting concerns over the bank’s risk profile, governance practices, and rising

Business

COVID-19: Why Nigeria’s banks may be at risk-Fitch Ratings

Ihesiulo Grace 6 April 2020 0

Fitch Ratings, has disclosed that Nigerian banks’ credit profiles face severe risks from the oil price slump and operating environment disruption due to the coronavirus pandemic. The rating agency attributed the lenders’ asset quality deterioration due to high exposures to the oil and gas sector as the biggest threat to ratings. Army employs journalists for […]

Business Headlines

Fitch affirms UBA’s ‘B’ rating with stable outlook, credit worthiness

Ihesiulo Grace 1 February 2018 0

Fitch, one of the foremost global credit rating agencies, has affirmed the Long Term Issuer Default rating of the UBA Plc at “B”, with a stable outlook. According to Fitch, the rating of UBA Plc is driven by the standalone creditworthiness of the bank, as defined by its viability rating, which is constrained by Nigeria’s […]

Oil & Gas

Fitch: Oil Producers Diversification Key to Weathering Price Drop

Ihesiulo Grace 19 March 2015 0

Sharp differences in export diversification and foreign net asset positions help explain why some oil-producing countries are likely to weather sustained oil price pressure much better than others, according to Fitch Ratings. A Fitch study of sensitivity to an extended USD50/bbl West Texas Intermediate (WTI) crude oil price shock employed a simplified graphical approach to