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Fitch Revises Coronation Merchant Bank s Outlook to Stable; Affirms IDR at B-

Fitch Ratings has revised the Outlook on Nigeria-based Coronation Merchant Bank Limited’s (CMB) Long-Term Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at ‘B-‘. Fitch has also affirmed CMB’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at ‘BBB (nga)’. A full list of ratings is below. The revision of the Outlook to Stable reflects Fitch’s view of receding near-term risks to the bank’s intrinsic creditworthiness from the economic downturn. In our view, the bank’s Long-Term IDR has sufficient headroom at the ‘B-‘ level to absorb moderate shocks from the difficult operating environment, including heightened intervention and regulatory risks, and resulting risks to its financial profile in 2021.

Fitch Ratings affirms KIB s long-term IDR at A+ with a stable outlook

Fitch Ratings affirms KIB s long-term IDR at A+ with a stable outlook
kuwaittimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.net Daily Mail and Mail on Sunday newspapers.

Nigeria: Fitch Revises Coronation Merchant Bank s Outlook to Stable - Affirms IDR Rating At B-

Nigeria: Fitch Revises Coronation Merchant Bank s Outlook to Stable - Affirms IDR Rating At B-
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

Nigeria: Fitch Revises Coronation Merchant Bank s Outlook to Stable

Nigeria: Fitch Revises Coronation Merchant Bank s Outlook to Stable 21 December 2020 Fitch Ratings has revised the outlook on Coronation Merchant Bank s Long-Term Issuer Default Rating (IDR) to Stable, from Negative. The rating agency also affirmed the bank s IDR at B-, its Viability Rating (VR) at b- and National Long-Term Rating at BBB (nga) . According to Fitch Ratings, Coronation Merchant Bank has good asset-quality, reporting zero impaired loans (IFRS 9 Stage3)/gross ratio as at end 9M20, which has also been the case since inception. CMB s lending has continued to grow rapidly (up 45% yoy in 9M20), in line with high demand for imports and the diversification of the bank s funding profile.

Coronation Merchant Bank s outlook stabilises, attains B- on IDR ratings

By Itohan Abara-Laserian Lagos, Dec. 20, 2020 The Fitch Ratings has revised the outlook on the Coronation Merchant Bank’s (CMB) Long-Term Issuer Default Rating (IDR) to ‘stable’ from negative and affirmed it at ‘B-’. Mr Banjo Adegbohungbe, Managing Director and Chief Executive Officer of the bank, announced this in a statement on Sunday in Lagos. Adegbohungbe said that the global rating agency has also affirmed the bank’s Viability Rating (VR) at ‘B-’ and National Long-Term Rating at ‘BBB (nga)’. Naija247news reports that the Fitch Ratings is a provider of credit ratings, commentary and research, as well as providing clarity and insight enabling its clients all over the world to make better decisions.

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