Fitch Upgrades Access Bank’s National Rating To ‘A+

A global rating agency- Fitch Ratings, in its latest report, has upgraded Access Bank’s National Long-Term Rating to ‘A+ from ‘A and at the same time affirmed the bank’s Long-Term Issuer Default Rating (IDR) at ‘B’.

 

According to the rating agency, Access Bank’s IDRs are driven by the bank’s intrinsic creditworthiness as defined by its Viability Rating (VR)”. This, it stated, was a reflection of Access’ Bank’s solid financial metrics, which are stronger than most Nigerian banks.

 

It added: “Access Bank’s asset quality metrics is said to compare especially well with its immediate peers, as the bank’s stock of non-performing loans has remained under control, comprising 2.6 per cent of gross loans at end September 2017, the lowest of all large Nigerian banks.”

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