UBA America, the United States subsidiary of Pan African financial institution, United Bank for Africa (UBA) Plc, has pledged its continued commitment to facilitating trade and investment between North America and the African continent.
Speaking on Thursday from the Bank’s office in New York, the Chief Executive Officer, UBA America, Ms. Sola Yomi-Ajayi, disclosed that the bank’s major focus and strategy is to enable the flow of development capital, in line with its commitment to supporting companies achieve their aims of international trade between both continents.
UBA America is the only sub-Saharan African bank licensed to operate a bank in the United States of America (USA) and armed with the fact that its parent company, UBA Group has operations in over 19 African countries and major financial capitals, the bank is continuously hinging on its pan-African strength and global connectivity to support African and international businesses.
Fitch Ratings has revised the outlook on Coronation Merchant Bankâs Long-Term Issuer Default Rating (IDR) to Stable, from Negative.
The rating agency also affirmed the bankâs IDR at âB-,â its Viability Rating (VR) at âb-â and National Long-Term Rating at âBBB (nga)â.
According to Fitch Ratings, âCoronation 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.
December 20, 2020
Fitch Ratings (Fitch) has affirmed ADNOC Group a standalone credit rating of AA .
ABU DHABI Fitch Ratings (Fitch) has affirmed ADNOC Group a standalone credit rating of AA+. According to Fitch, the rating reflects ADNOC’s high upstream production and vast oil reserves, very low cost of production, integration into downstream operations, very conservative financial policies, high financial flexibility and low leverage, and its strong unit profitability.
In line with its Government-Related Entities (GRE) Rating Criteria and Parent and Subsidiary Linkage (PSL) Rating Criteria, Fitch also affirmed a Long-Term Issuer Default Rating (IDR) of AA with a Stable Outlook to ADNOC, in line with the sovereign rating of Abu Dhabi, reflecting Fitch’s view of the strong links between ADNOC and the Abu Dhabi government.
Abu Dhabi: Fitch Ratings (Fitch) on Sunday affirmed ADNOC Group a standalone credit rating of ‘AA+’ to reflect the energy giant’s high upstream production and vast oil reserves.
The ratings agency also cited low cost of production, integration into downstream operations, conservative financial policies, high financial flexibility and strong unit profitability.
“These ratings validate the bold ambitions ADNOC has set itself under our progressive and sustainable 2030 growth strategy, underpinned by the recent announcement of an ambitious five-year spending plan for 2021-2025 approved in November 2020 by the Supreme Petroleum Council,” said Ahmed Jasim Al Zaabi, Group Chief Financial Officer at ADNOC, in a statement.
Fitch Revises Coronation Merchant Bank s Outlook to Stable; Affirms IDR at B- naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.