Proshare Logo
   Market Date: 30-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

Fitch affirms Nigeria's Access Bank Plc

Category: Products & Services

  Read (2340)
Fitch affirms Nigeria's Access Bank Plc

Thursday, October 20, 2011 12:48 PM / Reuters


The following statement was released by the rating agency:


Oct 20- Fitch Ratings has affirmed Access Bank Plc's Long-term Issuer Default Rating (IDR) and assigned a Positive Outlook, following the bank's acquisition of Intercontinental Bank Plc (Intercontinental). Access's ratings have been removed from Rating Watch Positive (RWP). A full rating breakdown is at the end of this release.


The Positive Outlook reflects the potential upside to the bank's ratings once it has fully absorbed Intercontinental. Fitch considers that the absorption of Intercontinental may support Access's developing franchise and enhance its systemic importance. Intercontinental has a large deposit franchise, supported by a branch infrastructure of about 366 branches at end-December 2010.


Established in 1989, Access is a mid-sized, Nigeria-listed bank. Historically, it has had a wholesale banking focus, while its retail franchise continues to develop. Access has received approval-in-principle for a commercial banking licence with international authorisation in terms of the new Central Bank of Nigeria guidelines.


The rating actions are as follows:




Long-term foreign currency IDR: affirmed at 'B-', Positive Outlook, off RWP 

Short-term foreign currency IDR: affirmed at 'B' 

Viability Rating: affirmed at 'b-' 

Individual Rating: affirmed at 'D/E' 

Support Rating: affirmed at '5', off RWP 

Support Rating Floor: affirmed at 'NF' 

National Long-term Rating: affirmed at 'BBB-(nga)', off RWP 

National Short-term Rating: affirmed at 'F3(nga)', off RWP

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Products & Services

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014