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Fitch Revises Outlook on Access Bank to Stable from Negative; Affirms at


Fitch Ratings has revised the Outlook on Nigeria-based Access Bank Plc’s Long-Term Issuer Default Rating (IDR) to Stable from Negative, and affirmed the rating at ‘B’. The Viability Rating (VR) has been affirmed at ‘b’. A full list of rating actions is below.
The Outlook revision reflects Fitch’s view that risks to Access’s credit profile have receded since the onset of the Covid-19 crisis, as reflected in the bank’s resilient financial metrics in 2020 and 1Q21 and our expectation that these trends will continue. Our action also reflects our view that the bank has sufficient headroom at the current rating level to absorb risks to its asset quality, profitability and capital under our base case, resulting from operating environment pressures. ....

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Fitch Affirms Wema Bank at 'B-'; Removes Rating Watch Negative;


Fitch Ratings – London – 28 May 2021: Fitch Ratings has affirmed Wema Bank PLC’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ and removed it from Rating Watch Negative (RWN). The Outlook is Stable. A full list of rating actions is detailed below.
The removal of the RWN on Wema’s IDRs, Viability Rating (VR) and National Ratings reflects Fitch’s expectation that, having recently received shareholder approval, plans for a significant rights issue in 3Q21 will likely proceed as intended and improve capitalisation and leverage to more acceptable levels. It also reflects our view that loan and asset growth will evolve at a slower pace than in recent years and near-term risks to the bank’s financial profile from the economic fallout of the pandemic have receded. ....

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