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 exposure to politically volatile markets. Once celebrated for its strong creditworthiness and strategic […]
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 […]
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 […]
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 […]